Wed, Sep 29, 2004 - Page 10 News List

Tsai led family to dominate nation's finance business

By Jackie Lin and Kevin Chen  /  STAFF REPORTERS

In 1985, Tsai Chern-chou became embroiled in a controversy after embezzling over NT$7.8 billion from the 10th Credit Cooperative of Taipei (北市十信), of which he was chairman. Although Tsai Chern-chou was a Chinese Nationalist Party (KMT) lawmaker, the Legislative Yuan eventually voted to allow his arrest, arousing a dispute between the brothers over who should act to help him.

On the business front, the brothers were rivals as well. The Cathay and Fubon groups have competed for dominance in the financial market.

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