Financial Crisis at Chao Chi Group? Acer's Lee Wen-Chi Resigns After Discovering Internal Management Issues

Chao Chi Group's affiliated companies, Zhao Ji Investment and Hermit Crab Management Consulting, are facing financial difficulties. Chao Chi recently held a board meeting and appointed Acer's representative Lee Wen-Chi as the new chairman. However, Acer announced on July 7th that Lee Wen-Chi discovered internal management issues at Chao Chi and resigned immediately.

The problem with Chao Chi's affiliated companies surfaced when Zhao Ji Investment and Hermit Crab Management Consulting were unable to repay their corporate bonds. 187 investors have formed a self-help association, and former chairman Lee Chien-Cheng admitted that the company failed to fulfill its obligations due to investment losses.

Furthermore, Lee Chien-Cheng is suspected of misusing nearly 700 million NT dollars out of the 1 billion NT dollars raised through corporate bonds to purchase luxury cars, branded goods, and to settle personal debts. The Taipei District Prosecutors Office conducted searches on July 7th and is investigating the flow of funds.

Chao Chi announced on July 5th that Lee Wen-Chi was appointed as the new chairman. However, Acer announced on the evening of July 7th that Lee Wen-Chi discovered internal management issues at Chao Chi and resigned from the position of chairman and corporate director, effective immediately.