The suspects are accused of violating the Banking Act (銀行法), the Financial Holding Company Act (金融控股公司法) and Securities and Exchange Act (證券交易法), Taipei Deputy Chief Prosecutor Chang Chieh-chin (張介欽) said. Tsai resigned from Mega Financial in March and joined Chien Chi Asset Management (鑒機資產管理), owned by Ruentex Group (潤泰集團) chairman Samuel Yin (尹衍樑). “Tsai headed Mega Financial Holding, but he ignored banking and misconduct regulations. He used the financial resources of Mega Financial Holding for his own private schemes, with plans to establish his own business empire to become the top boss in Taiwanese investment banking,” Chang said. Prosecutors said Tsai, using this scheme, received illicit earnings of NT$168.7 million, Wang received NT$33.75 million and Hsieh received NT$22.5 million.

Source: Taipei Times December 02, 2016 16:01 UTC