Reported 10 months ago
The 'Five Mutual Group,' originally in the elderly care business, was recently exposed for illegal fundraising amounting to 22 billion NT dollars, leading to its female CEO Chen Qiubai being sentenced to 10 years and 6 months in prison. Subsequently, its subsidiary, Taiwan's restaurant giant 'Jeil International Catering Group,' also closed down, leaving 500 employees jobless, with only 218 of them receiving compensation ranging from thousands to tens of thousands NT dollars. Jeil International Catering Group faced financial difficulties due to its mother company's illegal fundraising case, resulting in the closure of all 32 stores across Taiwan, including popular brands like Pepper Lunch and MAiSEN, causing 500 employees to lose their jobs overnight.
Source: YAHOO