Under Convoy’s regulatory licenses, employees of the company can buy and sell shares, finance IPOs, and lend money to investors with little influence over the company, which are the rights that Cho gave. used for personal gain, based on the allegations in the lawsuit. In an accusation said in 2015, the family ran Taiwan’s second largest bank – Fubon Financial Holding Co. – has invested in Convoy a value of 1.57 billion HKD and Mr. Cho has transferred that investment money into the pockets of his network co-workers. Members of the Tsai family declined to comment.
According to the lawsuit, the Tsai family wanted to add the former CEO of Citigroup Inc., Sanford Weill, as a co-investor, but Cho denied this idea. Instead, Mr. Cho found independent investors to buy new shares worth 1.4 billion HKD of Convoy Company. These new investors turned out to be a close relative of Mr. Cho, who owns a company specializing in public relations (PR) for Town Health and a number of other companies. .
Seen more at: Convoy this here’s the rubber duck you got a copy on me poster
