Tamsui Land Sale Suspected of Violating Securities Law, Prosecutors Search Hontai Life Insurance

Central News Agency (Taipei, April 14) -- Prosecutors, acting on a complaint from the Financial Supervisory Commission (FSC), are investigating Hontai Life Insurance for alleged violations of the Securities Transaction Act related to irregular transactions during the bidding for land in Tamsui in 2019. The Taipei District Prosecutors Office today dispatched 12 teams from the Investigation Bureau to search Hontai Life Insurance and other locations, summoning Hontai Group's senior executive Mr. Lin and other 25 individuals for questioning. According to the FSC's complaint, Hontai Life Insurance allegedly violated the Securities Transaction Act concerning irregular transactions when bidding for land in the Tamsui District, Tamsui Section, New Taipei City, in 2019. Following the report, the Taipei District Prosecutors Office directed the Northern Investigation Division to handle the case. Today, the Taipei District Prosecutors Office, under the command of the Northern Investigation Division, executed search warrants issued by the court, searching the residences of Hontai Group's senior executive Mr. Lin, retired former Hontai Life Insurance Chairman Mr. Lu, and seven other individuals, as well as 12 locations including Hontai Life Insurance's company premises. In addition, Mr. Lin, Mr. Lu, and 18 witnesses were notified to appear for explanations. Investigations are ongoing to clarify the details. (Editor: Hsiao Bowen) 1150414. Standing with the facts, your every sponsorship is a force to protect press freedom. Download CNA's 'One-Stop News' APP for real-time updates. Text, images, and videos on this website may not be reproduced, publicly broadcast, publicly transmitted, or used without authorization.