Lu Zichang Accused of ‌Money Laundering

Lu Jichang, current national policy adviser and ⁢chairman​ of the board of directors of Tamsui Credit‌ Union,⁢ has been accused of using relatives and friends to​ borrow money, amounting⁢ to NT$60 million. Kuomintang lawmaker Wang Hongwei stated that Jichang’s behavior‍ amounts to “money laundering” and a‍ “violation of the Prevention Act”, ⁤which requires the Financial Supervisory Commission to launch a comprehensive financial inspection and thorough investigation of Danshui Credit Union and Bankiao Credit Commercial Bank as required by law.

Legislator Wang Hongwei and Taitung County Councilor Pan Guilan held a ‌press conference to ‌name Lu Zichang, national policy consultant and ⁣father⁢ of former Democratic Progressive Party legislator Lu Sanling, for allegedly using Tamsui Credit Union and Banqiao​ Credit and Commercial Bank. Complaint members were given personal ‍loans as “principals”, and unbeknownst to the parties, 30 million yuan​ was transferred to the ​account on the same day, which was suspected⁣ not to be listed in the passbook.

Pan Guilan ⁤stated that he ‍was a high-ranking customer of‍ Danxin,‌ and Lu Zichang came to talk to him⁣ and claimed that he and his mother signed a contract on November 14,‌ 2011 as Lu ⁤Zichang’s⁢ designated subordinate. A 100 million yuan loan agreement⁤ was made, and throughout the borrowing process, Lu Zichang found people to ⁢sign the contract, including Danxin staff he had never met.

Pan Guilan insisted on the process of renewing his loan with his sister Pan Guizhong, also⁢ a borrower, when his sister died and needed⁤ to settle the account, he discovered that his sister was asked by Lu Zhichang to open two accounts. On June ⁣1, 2012, 30 million yuan was sent⁤ from Denjin to Banxin, and 30 million yuan was ​transferred from his ‌Banxin account to ​the account of Lu Xichang’s​ sister, ⁣Lu Suqing.

Pan Guilan questioned why Lu Xichang’s sister Lu Suqing wanted to send money to Lu Sanling and Lu Sanfu through her own account. ⁢Is it money laundering? During the court hearing, it was also discovered that Lu ​Zichang⁢ used to pick victims among ⁣his customers, ​”We are the ⁢victims,” and the prosecutor‌ should investigate Danxin and Banxin.

Wang Hongwei stated that the whole ​incident seemed to show that Lu​ Zichang was using the borrower’s account to create financial breakpoints, and he urged the Financial Supervision⁢ Commission to⁢ start a comprehensive financial inspection.

In ⁢response, Lu Zichang appointed lawyer Chen Shouhuang to issue a‍ statement⁢ on his behalf, saying that‍ the comments by Wang Hongwei and⁤ others were illegal and that they would⁣ reserve the right to take legal action.