Reported 8 months ago
According to Yahoo News, on June 24, 2024, the former chairman of Taiwan Land Development Company, Qiu Fusheng, was summoned by the Northern District Prosecutor's Office for alleged violations of the Securities and Exchange Act. After failing to raise the required 1.5 million bail, Qiu was placed under house arrest and prohibited from traveling or going to sea. He is also required to report his whereabouts daily via cellphone. The investigation stems from suspicions of financial irregularities involving a loan of over 200 million New Taiwan Dollars in 2019, not properly accounted for in the company's financial reports for 2021, potentially violating securities laws. Several other former executives were also involved in the case.
Source: YAHOO