Taipei prosecutors last night released Cosmos Bank founder and former chairman Hsu Sheng-fa (許勝發), his son, former vice chairman Hsu Sen-rong (許顯榮), and daughter, Hsu Juan-juan (許娟娟), on bail after questioning them over their alleged involvement in an embezzlement case.
Taipei District Prosecutors' Office spokesman Lin Jinn-tsun (林錦村) said five individuals were summoned yesterday: Hsu Sheng-fa, Hsu Sen-rong, Hsu Juan-juan, Cosmos Bank official Shen Ming-ching (沈明津) and former inspector of Cosmos Bank Charles Chen (陳致遠).
The five were questioned by agents from the Ministry of Justice's Investigation Bureau in the morning at one of the bureau's offices, and in the afternoon they were moved to the Taipei District Prosecutors' Office for further interviews by prosecutors.
Hsu Sheng-fa currently is the chairman of Auto 21. Prosecutors believe that between 2001 and 2006, the Hsus used more than 10 Auto 21 subsidiaries to apply for loans from the bank, and that under their direction the bank illegally granted the loans, believed to be valued at about NT$800 million (US$24.7 million).
Between 2004 and 2005, the pair allegedly used several plots of land as collateral for loans of more than NT$1.8 billion from the bank, which granted the loans despite the fact that the real value of the land was much lower than indicated, prosecutors said.
In addition, in 2004 the Hsus allegedly sold NT$15 billion in non-performing loans to Asset Management Company, a subsidiary of Auto 21, for NT$1 billion -- far less than the market price, prosecutors said, adding that the company had only paid the bank NT$30 million.
Hsu Sheng-fa was released on NT$35 million bail and Hsu Sen-rong on NT$20 million bail, while Hsu Juan-juan was released on NT$15 million bail.
Chen, who was investigated as a witness, was released without bail after questioning.
Additional reporting by CNA
A preclearance service to facilitate entry for people traveling to select airports in Japan would be available from Thursday next week to Feb. 25 at Taiwan Taoyuan International Airport, Taoyuan International Airport Corp (TIAC) said on Tuesday. The service was first made available to Taiwanese travelers throughout the winter vacation of 2024 and during the Lunar New Year holiday. In addition to flights to the Japanese cities of Hakodate, Asahikawa, Akita, Sendai, Niigata, Okayama, Takamatsu, Kumamoto and Kagoshima, the service would be available to travelers to Kobe and Oita. The service can be accessed by passengers of 15 flight routes operated by
Alain Robert, known as the "French Spider-Man," praised Alex Honnold as exceptionally well-prepared after the US climber completed a free solo ascent of Taipei 101 yesterday. Robert said Honnold's ascent of the 508m-tall skyscraper in just more than one-and-a-half hours without using safety ropes or equipment was a remarkable achievement. "This is my life," he said in an interview conducted in French, adding that he liked the feeling of being "on the edge of danger." The 63-year-old Frenchman climbed Taipei 101 using ropes in December 2004, taking about four hours to reach the top. On a one-to-10 scale of difficulty, Robert said Taipei 101
Taiwanese and US defense groups are collaborating to introduce deployable, semi-autonomous manufacturing systems for drones and components in a boost to the nation’s supply chain resilience. Taiwan’s G-Tech Optroelectronics Corp subsidiary GTOC and the US’ Aerkomm Inc on Friday announced an agreement with fellow US-based Firestorm Lab to adopt the latter’s xCell, a technology featuring 3D printers fitted in 6.1m container units. The systems enable aerial platforms and parts to be produced in high volumes from dispersed nodes capable of rapid redeployment, to minimize the risk of enemy strikes and to meet field requirements, they said. Firestorm chief technology officer Ian Muceus said
MORE FALL: An investigation into one of Xi’s key cronies, part of a broader ‘anti-corruption’ drive, indicates that he might have a deep distrust in the military, an expert said China’s latest military purge underscores systemic risks in its shift from collective leadership to sole rule under Chinese President Xi Jinping (習近平), and could disrupt its chain of command and military capabilities, a national security official said yesterday. If decisionmaking within the Chinese Communist Party has become “irrational” under one-man rule, the Taiwan Strait and the regional situation must be approached with extreme caution, given unforeseen risks, they added. The anonymous official made the remarks as China’s Central Military Commission Vice Chairman Zhang Youxia (張又俠) and Joint Staff Department Chief of Staff Liu Zhenli (劉振立) were reportedly being investigated for suspected “serious
RSS