Biotech Company Chairman Suspected of $130M Loan Fraud; Management Executive Bailed for $500K
Key facts
- Biotech Company Chairman Suspected of $130M Loan Fraud; Management Executive Bailed for $500K
- The chairman of a biotech company in Taiwan is under investigation for a massive fraud scheme, including fake capital increases, a $130M fraudulent bank loan, and illegal sales of unlisted stock totaling $400M. Prosecutors recently conducted a second wave of raids.
- Source: PR Times
- Date: April 22, 2026
Direct answer
The chairman of a biotech company in Taiwan is under investigation for a massive fraud scheme, including fake capital increases, a $130M fraudulent bank loan, and illegal sales of unlisted stock totaling $400M. Prosecutors recently conducted a second wave of raids.
- Citation
- Biotech Company Chairman Suspected of $130M Loan Fraud; Management Executive Bailed for $500K (April 22, 2026), PR Times
- Source
- PR Times
- Date
- April 22, 2026
The chairman of a biotech company in Taiwan is under investigation for a massive fraud scheme, including fake capital increases, a $130M fraudulent bank loan, and illegal sales of unlisted stock totaling $400M. Prosecutors recently conducted a second wave of raids.
📋 Article Processing Timeline
- 📰 Published: April 22, 2026 at 09:14
- 🔍 Collected: April 22, 2026 at 09:31 (17 min after Published)
- 🤖 AI Analyzed: April 22, 2026 at 12:51 (3h 19m after Collected)
Central News
(CNA Correspondent Hsieh Chun-lin, Taipei, 22nd) The Taipei District Prosecutors Office is investigating a biotech company for allegedly conducting fake capital increases to fraudulently obtain bank loans and illegally trading stocks. Yesterday, a second wave of searches and interviews was launched. After questioning by the prosecutor, a Management Department Executive surnamed Wang was released on NT$500,000 bail and restricted from changing residence, leaving the country, or going to sea.
In addition, stock affairs personnel surnamed Lin and Wu were both released on NT$100,000 bail with the same restrictions. An accountant surnamed Chiu was sent back.
According to the investigation, the chairman of a biotech company, surnamed Lin, and his spouse, surnamed Hsu, allegedly falsely increased the capital of a subsidiary to NT$120 million between 2019 and 2021. They then engaged in fake transactions with another company controlled by Lin to inflate revenue, thereby defrauding several banks of over NT$130 million in loans.
Investigators also found that between 2020 and 2021, Lin and others allegedly used a "print stock, exchange for cash" scheme, selling unlisted stocks of their subsidiary to investors through underground brokerage information companies, amassing over NT$400 million.
On March 10, the Taipei District Prosecutors Office directed the Ministry of Justice Investigation Bureau's Taipei City Field Division to search the residences of Lin, Hsu, and a cooperating company head surnamed Yu, as well as 6 locations related to Lin's biotech company. The four individuals, including an accountant surnamed Chiu, were summoned for questioning.
After questioning, the prosecutor successfully petitioned the court to detain Lin incommunicado. Hsu and Yu were both released on NT$500,000 bail and restricted from leaving their residence or the country. Chiu was also restricted from leaving the country.
Continuing the investigation, prosecutors launched a second wave of searches yesterday, directing the Taipei City Field Division with court-issued warrants to search the residences of the accomplices—Wang (management executive), Lin, and Wu (stock affairs)—and 4 locations at the biotech company. The four defendants were summoned to explain the case. The investigation is proceeding under suspicions of violating the Banking Act for defrauding banks and the Securities and Exchange Act for fraudulent trading of securities. (Editor: Chang Ming-kun) 1150422
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(CNA Correspondent Hsieh Chun-lin, Taipei, 22nd) The Taipei District Prosecutors Office is investigating a biotech company for allegedly conducting fake capital increases to fraudulently obtain bank loans and illegally trading stocks. Yesterday, a second wave of searches and interviews was launched. After questioning by the prosecutor, a Management Department Executive surnamed Wang was released on NT$500,000 bail and restricted from changing residence, leaving the country, or going to sea.
In addition, stock affairs personnel surnamed Lin and Wu were both released on NT$100,000 bail with the same restrictions. An accountant surnamed Chiu was sent back.
According to the investigation, the chairman of a biotech company, surnamed Lin, and his spouse, surnamed Hsu, allegedly falsely increased the capital of a subsidiary to NT$120 million between 2019 and 2021. They then engaged in fake transactions with another company controlled by Lin to inflate revenue, thereby defrauding several banks of over NT$130 million in loans.
Investigators also found that between 2020 and 2021, Lin and others allegedly used a "print stock, exchange for cash" scheme, selling unlisted stocks of their subsidiary to investors through underground brokerage information companies, amassing over NT$400 million.
On March 10, the Taipei District Prosecutors Office directed the Ministry of Justice Investigation Bureau's Taipei City Field Division to search the residences of Lin, Hsu, and a cooperating company head surnamed Yu, as well as 6 locations related to Lin's biotech company. The four individuals, including an accountant surnamed Chiu, were summoned for questioning.
After questioning, the prosecutor successfully petitioned the court to detain Lin incommunicado. Hsu and Yu were both released on NT$500,000 bail and restricted from leaving their residence or the country. Chiu was also restricted from leaving the country.
Continuing the investigation, prosecutors launched a second wave of searches yesterday, directing the Taipei City Field Division with court-issued warrants to search the residences of the accomplices—Wang (management executive), Lin, and Wu (stock affairs)—and 4 locations at the biotech company. The four defendants were summoned to explain the case. The investigation is proceeding under suspicions of violating the Banking Act for defrauding banks and the Securities and Exchange Act for fraudulent trading of securities. (Editor: Chang Ming-kun) 1150422
Choose to stand with the facts, every sponsorship from you is the power to protect press freedom.
Download the CNA "First-hand News" APP to instantly grasp the latest news.
The text, images, and audio/video on this website may not be reproduced, publicly broadcast, publicly transmitted, or utilized without authorization.
FAQ
What are the key facts in this article?
The chairman of a biotech company in Taiwan is under investigation for a massive fraud scheme, including fake capital increases, a $130M fraudulent bank loan, and illegal sales of unlisted stock totaling $400M. Prosecutors recently conducted a second wave of raids.
What is the direct answer?
The chairman of a biotech company in Taiwan is under investigation for a massive fraud scheme, including fake capital increases, a $130M fraudulent bank loan, and illegal sales of unlisted stock totaling $400M. Prosecutors recently conducted a second wave of raids.
What is the source and date?
PR Times: https://www.cna.com.tw/news/asoc/202604220023.aspx | April 22, 2026