The China Post
Date: September 11, 2016
By: CNA

TAIPEI–Mckinney Tsai, former chairman of Mega Financial Holding Co., the Taiwanese financial institution hit by a money-laundering investigation, was released by prosecutors on NT$3 million (US$94,937) bail late Friday after being summoned for questioning for his role in the scandal.

While prosecutors declined to disclose the details about the questioning of Tsai in their probe into the bank’s operations, local media reported on Saturday that the banker had been aware of violations by a New York branch of Mega Financial’s Mega International Commercial Bank of U.S. anti-money laundering law during his tenure, but had failed to take action to deal with the problem.

Tsai was barred from leaving the country after his release.

Wang Chi-pang, former chief secretary of Mega Financial, who used to be an aide to Tsai, was released on NT$2 million bail and barred from leaving Taiwan after being questioned by prosecutors.

Tsai and Wang have been named defendants in the money laundering case, according to     [FULL  STORY]