At the New Taipei District Court on Oct. 21, VIP clients of a branch said they were pleased with the bank's Rolls-Royce service in the trial of the former chairman of Taichung Commercial Bank. The defendant disputes the charges and there is no verdict.
According to the United Daily News, the New Taipei District Court resumed the trial on Oct. 21 of a former chairman of Taichung Commercial Bank, surnamed Wang. He is accused of embezzling nearly NT$1.1 billion while heading the bank and its insurance brokerage. Prosecutors say the money went to leases of supercars and luxury cars, a guesthouse, a private jet and motorsport sponsorship. These are charges only, and no finding of guilt has been made.
광고 문의 · 300×250Four witnesses appeared: a former assistant vice president of the Lukang branch surnamed Lin, two VIP clients of that branch surnamed Du and Lin, and a senior executive surnamed Chiu who handled overseas expansion. The questioning focused on luxury vehicles used for client service and the overseas branch plans.
Testimony on the Rolls-Royce Service
The former branch officer said he had driven VIP clients to a golf course in the bank's Rolls-Royce and had heard it was used as a wedding car for a client's child. Cars were reportedly assigned only to high-contribution VIPs, with dispatch forms approved by the head office's wealth management department.
The two VIP clients, who had dealt with the bank for more than ten years, said they found the service ‘great’ and were ‘very satisfied,’ and that their business with the bank grew afterward. That testimony does not by itself prove embezzlement, and whether the vehicle spending was lawful is for the court to decide.
Testimony on Overseas Branch Plans
The executive testified that the defendant wanted to put the bank among the world's top 500 and grow assets to NT$1 trillion. He evaluated branch sites in Hong Kong, Malaysia, Singapore, Thailand, Cambodia, Japan and Australia. The defendant also flew on a company aircraft to meet the head of Malaysia's central bank and planned a Labuan branch, and a letter of intent with a U.S. bank was signed but dropped when conditions could not be met.
Prosecutors asked whether such work required the chairman's personal involvement. The date of the next hearing was not reported. The defendant has reportedly denied the charges, but his position at this hearing could not be confirmed from the report.