Taichung Bank Empties 1.1 Billion, Rents Luxury Private Jet; FSC Shocked by Insider Leakage

Reported 8 months ago

In the investigation of Taichung Commercial Bank's embezzlement, it was found that former chairman Wang Guifeng had treated the bank as his personal safe, renting luxury private jets and cars, and embezzling assets worth 1.1 billion. Shockingly, an auditor from the FSC became an insider, leaking audit information to the bank. The FSC expressed shock and regret, promising to take disciplinary actions according to internal regulations. This incident marks the first in 20 years and has prompted the FSC to enhance employee education and cooperate with investigations.

Source: YAHOO

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