Biotech Company Chairman Implicated in NT$130 Million Loan Fraud, Taipei Prosecutors Conduct Second Search and Question 4 Suspects
The Taipei District Prosecutors Office conducted a second wave of searches and questioned four suspects, including a manager, in connection with a biotech company's chairman allegedly involved in fraudulent capital increases, bank loan fraud totaling NT$130 million, and illicit stock trading.
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- 📰 Published: April 21, 2026 at 18:49
- 🔍 Collected: April 21, 2026 at 19:02 (12 min after Published)
- 🤖 AI Analyzed: April 22, 2026 at 00:56 (5h 53m after Collected)
Central News Agency
(Central News Agency reporter Hsieh Chun-lin, Taipei, 21st) The Taipei District Prosecutors Office (TDPO) is investigating a biotech company's alleged involvement in fraudulent capital increases for bank loans and illicit stock trading. Today, a second wave of operations was launched, searching four locations including the residences of Wang, a department manager, and others. Four defendants, identified as Wang, Lin, Wu, and Chiu, were summoned for questioning.
Investigations by prosecutors and investigators revealed that the biotech company's Chairman Lin and his spouse, Xu, are suspected of fraudulently increasing the capital of one of their subsidiary companies to NT$120 million between 2019 and 2021. They then allegedly conducted fictitious transactions with a company actually controlled by Lin to inflate revenues, thereby defrauding several banks of over NT$130 million in loans.
Investigators also found that between 2020 and 2021, Lin and others allegedly engaged in "printing shares, exchanging for cash" by selling unlisted shares of their subsidiary companies to investors through underground market information companies, amounting to over NT$400 million.
On March 10, the Taipei District Prosecutors Office directed the Taipei City Investigation Division of the Ministry of Justice Investigation Bureau to search six locations, including the residences of Lin, Xu, and You (the person in charge of Lin's partner company), as well as Lin's biotech company. Four individuals — Lin, Xu, You, and Chiu (a financial accountant from Lin's company) — were summoned for questioning.
After re-interrogation by the TDPO, Lin's detention was approved by the court, while Xu and You were released on bail of NT$500,000 each, with restrictions on residence, leaving the country, and leaving the sea. Chiu, the financial accountant, was also restricted from residence, leaving the country, and leaving the sea.
Today, the investigative unit launched a second wave of searches. Directed by the Taipei City Investigation Division, they executed search warrants issued by the court at four locations, including the residences of co-conspirator Wang (department manager), Lin and Wu (stock affairs personnel), and a biotech company. Four defendants — Wang, Lin, Wu, and Chiu (financial accountant) — were summoned to appear. The entire case is being investigated under suspicion of violating the Banking Act (fraudulently harming banks) and the Securities and Exchange Act (fraudulent trading of securities). (Editor: Hsiao Po-wen) 1150421
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(Central News Agency reporter Hsieh Chun-lin, Taipei, 21st) The Taipei District Prosecutors Office (TDPO) is investigating a biotech company's alleged involvement in fraudulent capital increases for bank loans and illicit stock trading. Today, a second wave of operations was launched, searching four locations including the residences of Wang, a department manager, and others. Four defendants, identified as Wang, Lin, Wu, and Chiu, were summoned for questioning.
Investigations by prosecutors and investigators revealed that the biotech company's Chairman Lin and his spouse, Xu, are suspected of fraudulently increasing the capital of one of their subsidiary companies to NT$120 million between 2019 and 2021. They then allegedly conducted fictitious transactions with a company actually controlled by Lin to inflate revenues, thereby defrauding several banks of over NT$130 million in loans.
Investigators also found that between 2020 and 2021, Lin and others allegedly engaged in "printing shares, exchanging for cash" by selling unlisted shares of their subsidiary companies to investors through underground market information companies, amounting to over NT$400 million.
On March 10, the Taipei District Prosecutors Office directed the Taipei City Investigation Division of the Ministry of Justice Investigation Bureau to search six locations, including the residences of Lin, Xu, and You (the person in charge of Lin's partner company), as well as Lin's biotech company. Four individuals — Lin, Xu, You, and Chiu (a financial accountant from Lin's company) — were summoned for questioning.
After re-interrogation by the TDPO, Lin's detention was approved by the court, while Xu and You were released on bail of NT$500,000 each, with restrictions on residence, leaving the country, and leaving the sea. Chiu, the financial accountant, was also restricted from residence, leaving the country, and leaving the sea.
Today, the investigative unit launched a second wave of searches. Directed by the Taipei City Investigation Division, they executed search warrants issued by the court at four locations, including the residences of co-conspirator Wang (department manager), Lin and Wu (stock affairs personnel), and a biotech company. Four defendants — Wang, Lin, Wu, and Chiu (financial accountant) — were summoned to appear. The entire case is being investigated under suspicion of violating the Banking Act (fraudulently harming banks) and the Securities and Exchange Act (fraudulent trading of securities). (Editor: Hsiao Po-wen) 1150421
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The text, images, and videos on this website may not be reproduced, broadcast, or transmitted publicly without authorization.