In 2021, Yang Wen-hu (楊文虎) and his wife, Wang Ying-chih (王音之), co-owners of Taipei-based New Site Industries (NSI), were sentenced to 26 years and 28 years respectively, the Taipei Times reported. Their offences? The systematic defrauding of twelve banks.

In addition, 34 people, several members of staff at the company and others, were convicted of conspiring with them to commit the frauds. Most of them were jailed for less than four years.

The couple was found guilty of breaches of provisions in the Banking Act (銀行法) and the Money Laundering Control Act (洗錢防制法) on defrauding, as well as other charges, the Taipei Times reported. It said "The defendants generated more than 1,000 false transaction records to obtain NT$38.6 billion in loans from nine banks — Taiwan Business Bank, DBS Bank, O-Bank Co, Yuanta Commercial Bank, First Commercial Bank, Taiwan Cooperative Bank, E.Sun Commercial Bank, Hua Nan Commercial Bank and Mega International Commercial Bank — before defaulting on the loans, they said.

"Prosecutors said that in 2008 and 2009, they generated 633 false transaction records to obtain NT$8.6 billion in loans from three other banks — CTBC Bank, Shanghai Commercial and Savings Bank and Land Bank of Taiwan — before defaulting on the loans."

The couple had fled to the USA but were extradited back to Taiwan to face trial.

Source and full story: Taipei Times - https://www.taipeitimes.com/News/taiwan/archives/2021/01/01/2003749750

Partial success on appeal: https://www.taipeitimes.com/News/taiwan/archives/2021/09/24/2003764922