Former Chairman of Zhongji Group, Li Jiancheng, Detained Without Bail Over Alleged Embezzlement of 700 Million TWD; Ex-Wife Reportedly Left Country Ahead of Probe

Prosecutors investigating the case of Zhongji Group, Taiwan's leading rental management company, conducted six simultaneous raids on August 7, 2026, summoning former chairman Li Jiancheng and co-founder Lin Youran for questioning. Authorities are probing allegations of breach of trust and embezzlement, with the Investigation Bureau’s Northern Mobile Station transferring both suspects for further interrogation. Prosecutors requested Li be held in pre-trial detention without visitation rights due to serious charges and risk of evidence tampering or flight. The Taipei District Court approved the request on August 8. Lin Youran was released after posting 2 million TWD bail.

Zhongji Group recently faced a crisis when its subsidiaries—Zhaoji Investment and Hermit Crab Management Consulting—failed to repay issued corporate bonds as scheduled, triggering panic among investors. Following investor complaints, prosecutors launched coordinated searches on August 7 across multiple locations, including Zhongji Property Management offices, and summoned Li and Lin.

Investigations revealed that Zhongji raised over 1.8 billion TWD through corporate bond offerings in 2020. However, Li is suspected of diverting 700 million TWD for personal investments and covering living expenses with his former spouse surnamed He, raising suspicions of asset stripping.

It was reported that Li’s ex-wife, Ms. He, had already left the country before the investigation began. Citing risks of collusion and escape, prosecutors applied for Li’s pre-trial detention without visitation, which the Taipei District Court granted early on August 8. Li was transferred to Taipei Detention Center that morning.