Reported 12 months ago
Tai Po Realty, responsible for the largest self-developed redevelopment project in Taiwan, 'Tai Po Joys Estate,' is accused of inflating sales data in financial reports to deceive consortium banks like Land Bank, obtaining fraudulent loans of 8.35 billion. The Taipei District Prosecutors' Office's Black Gold Task Force prosecutor Zheng Shao-jue concluded after an investigation that Tai Kun Construction Chairman Yang Yue-xiu and 9 others breached the Banking Act and committed banking fraud, leading to legal charges. Apart from Yang, the 9 prosecuted individuals include Tai Kun Group's General Manager Hong Wei-feng, Deputy General Manager Hong Zhen-fu, among others, all members of the LINE chat group 'Tai Kun Executives LINE Group.'
Source: YAHOO