Far Eastern Air Transport’s Chang Kang-wei chargedBy Jason Pan / Staff reporterTaipei prosecutors yesterday charged Far Eastern Air Transport Corp (FAT, 遠東航空) chairman Chang Kang-wei (張綱維) with fraud after he allegedly embezzled NT$3.59 billion (US$121.61 million). Far Eastern Air Transport chairman Chang Kang-wei, center, is prosecuted by Taipei District Prosecutors’ Office yesterday. Investigators said that Chang, when Huafu Enterprise began to post losses in 2011, took out NT$840 million in loans from the Bank of Taiwan (臺灣銀行), Mega Commercial Bank (兆豐銀行) and Far Eastern International Bank (遠東商銀). Chang allegedly defrauded the banks by doctoring financial reports, and promising to restructure FAT and his other subsidiaries, investigators said. Liao and Hwang allegedly ordered associate managers Chen Shih-chin (陳世卿) and Lin Wen-li (林文理) to approve the loan for FAT, they said.

Source: Taipei Times July 30, 2020 15:56 UTC