(CNA Taipei, June 29) Financial celebrity Yu Jinbao, 67, is accused of exploiting the borrowing needs of the president of Taiwan Glass Group, Mr. Lin, to borrow money from a British businessman, thereby defrauding commissions and embezzling loan interest, totaling over NT$500 million. The Taipei District Prosecutors Office today indicted Yu on charges of fraud and embezzlement.

According to the indictment, Yu Jinbao is the responsible person for Weizhang Company in the British Virgin Islands, and the actual responsible person for multiple companies including Liji Development and Wordwide. In 2023, he learned that Lin Boshhi, president of Taiwan Glass Group (and chairman of Shilian Precision Chemical), had a need for borrowed funds. After meeting a well-resourced British businessman, Mr. Xia, Yu acted as an intermediary for the loan.

Prosecutors pointed out that in September 2023, Yu presented a loan agreement that had been declared void and falsely claimed to Mr. Xia that he had lent US$10 million to Lin Boshhi, inducing Mr. Xia to also lend US$10 million to Mr. Lin. Yu thus earned a US$1.5 million brokerage commission.

In December 2023, Yu learned that Mr. Xia intended to invest in a certain company. Yu falsely claimed that Mr. Xia and Mr. Lin could each contribute US$37 million, and that he could lend US$15 million to Mr. Xia as part of the investment funds. This induced Mr. Xia to transfer US$12 million to Mr. Lin, thereby defrauding US$1.8 million in commissions.

Prosecutors found that Yu was also involved in another 5 cases of fraud and embezzlement in 2024, with criminal proceeds equivalent to over NT$52,406,000. It was not until Mr. Xia discovered irregularities last year and contacted Mr. Lin directly that he realized he had been deceived and reported the case to the authorities. (Editor: Li Hengshan) 1150629

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  • Source: CNA (Central News Agency)
  • Category: 犯罪