MOF approves Jason Liao’s resignation

MISCONDUCT? Liao quit as chairman of First Financial Holding after he was charged with pressuring his subordinates to approve a loan to Far Eastern Air Transport in 2009

Taipei Times
Date: Jul 31, 2020
By: Crystal Hsu / Staff reporter

The Ministry of Finance yesterday said that it has approved the resignation of state-run First Financial Holding Co (第一金控) chairman Jason Liao (廖燦昌) and is seeking a better understanding of the charges implicating several other high-ranking banking officials over alleged irregular lending to cash-strained Far Eastern Air Transport Corp (遠東航空).

Liao offered to step down earlier yesterday after the Taipei District Prosecutors’ Office indicted 10 people, including Liao, Land Bank of Taiwan (土地銀行) chairman Hwang Bor-chang (黃柏川) and Taiwan Cooperative Bank (合庫銀行) president Chen Shih-ching (陳世卿).

Deputy Minister of Finance Frank Juan (阮清華) told reporters that the ministry respected Liao’s wish to separate his legal suits from First Financial’s operation.

Liao has been released from all positions and duties at the bank-focused conglomerate and its subsidiaries, the ministry said.    [FULL  STORY]