Smartphone maker HTC Corp (宏達電) declined to comment on a report that its founder, Cher Wang (王雪紅), has been defrauded by members of her church.
The Chinese-language World Journal, published in the US, cited US court papers as saying that Wang was cheated out of US$7.4 million.
The US Attorney’s Office, Northern District of California, said in a news release that between 2004 and last month, Jonathan Chang (常如武), 60, and his wife, Grace Lee Chang (李薇林), 57, had defrauded a donor.
Although the news release did not identify the donor, media reports said that the donor was Wang.
The reports said Wang and her husband, Chen Wen-chi (陳文琦), are devout Christians and that they founded the “Faith Hope Love Foundation” to support Christian organizations around the world.
The two got married at the Home of Christ Church in Saratoga, the reports said, adding that Chen was baptized there and both attach great importance to the congregation.
Chang and his wife were arrested at their residence at Cupertino, California, on Feb. 8. They were later released on US$200,000 bail each.
The Changs are also members of the Home of Christ Church in Saratoga.
Jonathan Chang served as a church elder between 2002 and 2011 and was in charge of its finances, the report said, adding that he established a charity organization similar to that of the church.
The report said that the Changs allegedly remitted the money given by a donor to the organization they set up, instead of the church.
The news release said that the Changs also lied to the donor that the Home of Christ Church in Saratoga needed money for a new building, for which the donor gave US$2 million and provided US$3 million in loans.
The Changs did not inform the church about the donation and diverted the money into their personal account.
Media reports said that Jonathan Chang and Chen Wen-chi were college classmates and that Chang was trusted by both Chen and Wang.
Chang is senior manager and chief financial officer of VIA Technologies Inc (威盛電子), and Wang is the chairwoman of the company.
Ryanair, Transavia, Volotea and other low-cost airlines are feeling the financial pain from high jet fuel prices as a result of the Middle East war and are cutting flights. The closure of the Strait of Hormuz has taken a huge chunk of oil supplies off the market, sending the price of jet fuel soaring and triggering fears of shortages that could force airlines to cancel flights. Airlines are not waiting for a lack of supplies to react. “Travel alert: Airlines are cutting thousands of flights right now,” Travel Therapy host Karen Schaler said in an Instagram reel this past weekend.
MANAGING RISKS: Taiwan has secured LNG sufficient to cover 95 percent of electricity demand for next month, UBS said, describing the government’s approach as proactive UBS Group AG has raised its forecast for Taiwan’s economic growth this year to 8 percent, up from 6.9 percent previously, and said expansion could reach as high as 8.6 percent if external energy shocks are avoided. The upgrade reflects a stronger-than-expected first-quarter performance and sustained momentum in artificial intelligence (AI)-driven exports, which UBS said are providing a firm foundation for growth despite geopolitical and energy risks. Taiwan’s GDP expanded 13.69 percent year-on-year in the first quarter, the fastest growth since the second quarter of 1987, the Directorate-General of Budget, Accounting and Statistics (DGBAS) reported on Thursday. On a seasonally
The list of Asian stocks that benefit from business partnership with Nvidia Corp is getting longer, as the region further integrates into the artificial intelligence (AI) chip giant’s business ecosystem. Just in the past week, South Korea’s LG Electronics Inc, Taiwan’s Nanya Technology Corp (南亞科技), as well as China’s Huizhou Desay SV Automotive Co (德賽西威) and Pateo Connect Technology Shanghai Corp (博泰車聯) have become the latest to rally on news of tie-ups, supply-chain participation or product collaboration with the US chip designer. Asian suppliers account for about 90 percent of Nvidia’s production costs, up from about 65 percent last year, data compiled
The Fair Trade Commission’s (FTC) ongoing review of Grab Holdings Ltd’s US$600 million acquisition of Foodpanda Taiwan’s operations, announced on March 23, has taken on fresh urgency as industry experts warn that the transaction could embed significant Chinese cybersecurity vulnerabilities into Taiwan’s digital infrastructure through Grab’s deep ties to autonomous-driving firm WeRide (文遠知行). Less than 16 months after the FTC blocked Uber Eats’ direct attempt to acquire Foodpanda Taiwan — citing potential combined market shares of 80 to 90 percent — the emergence of Grab as the buyer has prompted questions about whether the same competitive harm is simply being rerouted