Hongtai Life's Tamsui Land Sale Under Investigation for Securities Transaction Act Violations; Lin Hongnan Bailed for 10 Million TWD

Prosecutors are investigating Hongtai Life for alleged violations of the Securities Transaction Act during the sale of land in Tamsui in 2019. Authorities searched Hongtai Life and other locations, questioning group leader Lin Hongnan and others. Lin was bailed out for 10 million TWD with travel restrictions. A former chairman and several executives also posted bail and face travel bans. Hongtai Life stated it operates with integrity and will fully cooperate with the investigation. The Financial Supervisory Commission filed a complaint alleging Hongtai Life violated the Securities Transaction Act for irregular transactions when selling land in Tamsui in 2019. Taipei District Prosecutors Office, along with the Northern Region Mobile Work Station of the Investigation Bureau, searched 12 locations, including the residences of Lin Hongnan, his wife, and a former chairman of Hongtai Life, as well as the company premises. Eight individuals, including Lin and the former chairman, were brought in for questioning, along with 18 witnesses. Hongtai Life issued a statement emphasizing its commitment to legal and compliant operations and fair customer treatment, expressing full cooperation with the judicial investigation. The company stressed that its operations and customer services remain normal and policyholder rights are unaffected.