Timothy Hsu (許調謀), founder and chairman of the Wego Hotel Group, said he was defrauded by a biotech and healthcare investment company in China and incurred losses of about NT$30 million (US$972,447).
Hsu said he has filed a lawsuit in China against his Chinese business partner, Chen Zirui (陳子睿), to get the money back.
Since 2000, the Wego Hotel Group has been known for its chain of “love hotels.”
Hsu has been credited with bringing international trends to the hospitality industry in Taiwan.
Buoyed by his success in Taiwan, Hsu looked to expand to China by investing in a business there.
In July last year, he and Chen, who told Hsu that he had a medical degree from a German university, set up a biotech and healthcare investment company in Guilin, according to the Chinese-language Want Weekly (周刊王).
Chen reportedly had Hsu fund the group’s subsidiaries there: a traditional Chinese medicine hospital, a biotech research center and a charity foundation aimed at helping poor families receive medical care.
Hsu and Chen had reportedly invested about NT$150 million by the time the hospital started operations this year, but Hsu later found that he had not been given the right to participate in its operations.
Hsu said he thought that Chen would make a good business partner because he believed Chen was an executive at the Tzu Chi Medical Foundation, as he had given him a business card that said so.
However, Hsu said he hired a private investigator and found that Chen not only had nothing to do with the foundation, but he had also registered all the subsidiaries under his name.
Hsu said when confronted with the evidence, Chen told him to invest more money so that he could participate in the hospital’s management.
However, Chen told reporters that it was Hsu who violated their business agreement, as he had failed to put in an additional 10 million yuan (US$1.44 million), so he was to blame for the dispute.
Chen said he has sent Hsu a letter to terminate their partnership, because the love hotel chain primarily promoted having sex, which ran counter to hospital’s mission of saving lives.
The Taipei Mass Rapid Transit (MRT) Wanda-Zhonghe Line is 81.7 percent complete, with public opening targeted for the end of 2027, New Taipei City Mayor Hou You-yi (侯友宜) said today. Surrounding roads are to be open to the public by the end of next year, Hou said during an inspection of construction progress. The 9.5km line, featuring nine underground stations and one depot, is expected to connect Chiang Kai-shek Memorial Hall Station to Chukuang Station in New Taipei City’s Jhonghe District (中和). All 18 tunnels for the line are complete, while the main structures of the stations and depot are mostly finished, he
Taipei is to implement widespread road closures around Taipei 101 on Friday to make way for large crowds during the Double Ten National Day celebration, the Taipei Department of Transportation said. A four-minute fireworks display is to be launched from the skyscraper, along with a performance by 500 drones flying in formation above the nearby Nanshan A21 site, starting at 10pm. Vehicle restrictions would occur in phases, they said. From 5pm to 9pm, inner lanes of Songshou Road between Taipei City Hall and Taipei 101 are to be closed, with only the outer lanes remaining open. Between 9pm and 9:40pm, the section is
The first global hotel Keys Selection by the Michelin Guide includes four hotels in Taiwan, Michelin announced yesterday. All four received the “Michelin One Key,” indicating guests are to experience a “very special stay” at any of the locations as the establishments are “a true gem with personality. Service always goes the extra mile, and the hotel provides much more than others in its price range.” Of the four hotels, three are located in Taipei and one in Taichung. In Taipei, the One Key accolades were awarded to the Capella Taipei, Kimpton Da An Taipei and Mandarin Oriental Taipei. Capella Taipei was described by
The Taipei Economic and Cultural Office in Vancouver, Canada, on Saturday hosted a reception to celebrate Double Ten National Day. Conservative Canadian lawmaker Marc Dalton called Taiwan a “beacon of courage and resilience in the face of rising authoritarianism,” according to a post on the Taiwan in Vancouver Facebook page. Also in attendance were fellow conservative caucus members Tako Van Popta and Chak Au, who said that Taiwan plays an “indispensable role” in ensuring global peace, prosperity and stability due to its strategic position in the Indo-Pacific region, it said. Canadian lawmaker Michael Cooper also recorded a message wishing Taiwan a
RSS