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3Novices:Head of Taiwan’s SinoPac bank held over US$165m ‘illegal loans’ to offshore company

The head of a major Taiwanese bank has been detained on suspicion of granting illegal loans, just months after another banking scandal rocked the island’s financial sector.
SinoPac Holdings chairman Ho Shou-chuan and two others are being probed over an alleged NT$5 billion (US$164.7 million) of loans made to an “offshore company with no real operations”.

It is not yet clear what relationship they have with the firm that received the money.
The case comes after the ex-chairman…
June 19, 2017 at 02:44PM http://ift.tt/2sOhLce
#3Novices #News #OnlineMedia #China 3Novices China

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