Wu Tzu-chia Reveals Million-Dollar Receipts and Wire Transfers, Accusing Cheng Yung-chin and Son of Exploiting Power for Financial Gain

The 2026 Hsinchu County magistrate election has been rocked by a political bombshell. On April 4, Wu Tzu-chia, chairman of the Beautiful Island News, named former Hsinchu County Magistrate Cheng Yung-chin, Hsinchu County Councilor Cheng Chao-chung, and Democratic Progressive Party (DPP) Hsinchu County magistrate candidate and current Zhubei Mayor Cheng Chao-fang during his online program 'Chairman Speaks Out.' Wu alleged that the Cheng family is involved in multiple questionable financial transactions and exchanges of benefits.

During the program, Wu presented copies of documents, including a receipt signed by Cheng Chao-chung for 10 million NT dollars, a bank transfer record from Hsu Yi-ming to Cheng Chao-fang, and a receipt signed by lawyer Sung Cheng-yi on behalf of Cheng Chao-fang for 3 million NT dollars. He demanded that Cheng Chao-fang publicly explain the matter by no later than April 7.

Wu stated that the documents he obtained reveal financial interactions between the Cheng family and business operators in the past, raising questions about whether they improperly leveraged their influence for personal gain. He first displayed two receipts bearing Cheng Chao-chung’s signature, totaling 10 million NT dollars, and challenged the individuals to disclose the source, purpose, and legal basis of the funds.

Wu then turned his focus to Cheng Chao-fang. He alleged that Cheng, without making any actual investment, acquired approximately 5 million NT dollars worth of shares in another person’s company through a so-called 'dry shares' arrangement, and subsequently received 150,000 NT dollars monthly. Wu claimed that, dissatisfied with the slow pace of monthly payments, Cheng later had lawyer Sung Cheng-yi collect a lump sum of 3 million NT dollars from the business operator.

To support his claims, Wu displayed during the program a bank transfer record from Hsu Yi-ming to Cheng Chao-fang and the receipt signed by Sung Cheng-yi. Wu said the information came from a friend of Sung Cheng-yi and emphasized that he still possesses additional evidence, with the current disclosures being merely 'the tip of the iceberg.'

Wu further raised legal concerns regarding tax evasion and unexplained sources of wealth. However, these allegations remain one-sided at this stage, and whether any illegality occurred will require explanations from the parties involved and formal determinations by judicial and tax authorities.

This is not the first time financial flows between Cheng Chao-fang and Hsu Yi-ming have drawn public attention. In March, Mirror Media reported on a land development dispute involving the 'Chih-Shan Manor' in Zhudong, citing documents from Yuan Fang Company indicating that on February 4, 2013, 15 million NT dollars were transferred into Cheng Chao-fang’s Cooperative Bank account, along with other financial transactions. The report also noted that Cheng and his former business partner Hsu have been involved in litigation and financial disputes over land development projects.

In response to the March report, Cheng Chao-fang publicly stated that the events occurred about 13 years ago, before he entered public service, and involved private name-lending arrangements among family members. Regarding Yuan Fang Company’s claim that the Cheng family received over 260 million NT dollars, Cheng denied it as 'absolutely false' and emphasized that since entering public office, he has maintained integrity and avoided any conflicts of interest with public duties.

Wu stated during the program that the current release is only the first wave of disclosures and directly challenged Cheng Chao-fang to publicly explain the receipts, share acquisition method, monthly 150,000 NT dollar payments, and the 3 million NT dollar transaction by April 7. He also warned that he would continue to reveal more evidence in the coming days.