Former Chung Shing Bank general manager Wang Hsuan-jen (王宣仁) was sentenced yesterday in a final verdict for his role in an illegal loan scandal.
Wang, who fled to China in May 2007 after being sentenced for a separate illegal loan case, was repatriated in February 2008 to serve a sentence of six years and eight months in jail from that earlier case.
The Taiwan High Court yesterday sentenced Wang to an additional one year and 10 months in jail, while Chang Chao-hsiang (張朝翔), former chief executive of Panvest, a landscape design company, was sentenced to one year and eight months in the same case.
According to the ruling, in 1998 the bank’s vice chairman, Wang Chih-hsiung (王志雄), learned that investors were buying up the bank’s shares. Wanting to gain control of the bank himself, Wang Chih-hsiung asked Wang Hsuan-jen and Chang to illegally use the bank’s money to purchase shares.
Chang transferred NT$250 million (US$8.38 million) into four shell accounts and then used the money to buy the bank’s shares.
The ruling said the men’s actions constituted a breach of trust.
Wang Hsuan-jen will serve his new sentence after his current term is completed, while Chang will begin serving his jail time soon, the court said.
Wang Hsuan-jen was sentenced to six years and eight months of prison in April 2007 for his role in an illegal loan case involving Taiwan Pineapple Corp. He fled Taiwanese authorities before he was due to begin serving his sentence in May that year.
Wang’s repatriation made him the first major Taiwanese economic criminal to be returned from China after the Kinmen Agreement was signed on Sept. 12, 1990.
Wang Chih-hsiung (王志雄) also fled to China and Taiwanese judicial authorities are still seeking his repatriation.
Considering that most countries issue more than five denominations of banknotes, the central bank has decided to redesign all five denominations, the bank said as it prepares for the first major overhaul of the banknotes in more than 24 years. Central bank Governor Yang Chin-lung (楊金龍) is expected to report to the Legislative Yuan today on the bank’s operations and the redesign’s progress. The bank in a report sent to the legislature ahead of today’s meeting said it had commissioned a survey on the public’s preferences. Survey results showed that NT$100 and NT$1,000 banknotes are the most commonly used, while NT$200 and NT$2,000
The Centers for Disease Control (CDC) yesterday reported the first case of a new COVID-19 subvariant — BA.3.2 — in a 10-year-old Singaporean girl who had a fever upon arrival in Taiwan and tested positive for the disease. The girl left Taiwan on March 20 and the case did not have a direct impact on the local community, it said. The WHO added the BA.3.2 strain to its list of Variants Under Monitoring in December last year, but this was the first imported case of the COVID-19 variant in Taiwan, CDC Deputy Director-General Lin Ming-cheng (林明誠) said. The girl arrived in Taiwan on
ANNUAL EVENT: Two massive Pokemon balloons are to be set up in Daan Park, with an event zone operating from 10am to 6pm This year’s Taipei Floral Picnic is to be held at Daan Park today and tomorrow, featuring an exclusive Pokemon Go event, a themed food market, a coffee rave picnic area and stage performances, the Taipei Department of Information and Tourism said yesterday. Two massive Pokemon balloons are to be set up in the park as attractions, with an exclusive event zone operating from 10am to 6pm, it said. Participants who complete designated tasks on-site would have a chance to receive limited-edition souvenirs, it added. People could also try the newly launched game Pokemon Pokopia in the trial area, the department said. Three PokeStops are
South Korea is planning to revise its controversial electronic arrival card, a step Taiwanese officials said prompted them to hold off on planned retaliatory measures, a South Korean media report said yesterday. A Yonhap News Agency report said that the South Korean Ministry of Foreign Affairs is planning to remove the “previous departure place” and “next destination” fields from its e-arrival card system. The plan, reached after interagency consultations, is under review and aims to simplify entry procedures and align the electronic form with the paper version, a South Korean ministry official said. The fields — which appeared only on the electronic form
RSS