Jin Qian Bao founder Yuan Changping faces detention over alleged school asset embezzlement

Yuan Changping, the founder of the Jin Qian Bao conglomerate and Weige International School, is facing allegations of embezzling over NT$100 million in school assets. Prosecutors have requested his detention on charges of breach of trust, though the Taichung District Court has yet to rule on the request.

The investigation stems from accusations by a vendor who claims Yuan's wife, Wu Wan-ting, who serves as the executive director of Weige High School, used fraudulent accounting to siphon off school funds for personal use. Prosecutors searched the Weige International School on May 8, seizing the mobile phones of all first-level supervisors. The investigation into financial crimes is ongoing.

Weige International School issued a statement acknowledging that the case involving the executive director is in the judicial process. The school emphasized that its operations are proceeding normally, with teaching and student learning continuing as usual. It stressed that the "children's learning and campus safety are the top priorities."

Yuan Changping, known as the "Godfather of Taichung's Hotels," founded Weige International School. He remarried Wu Wan-ting this year after divorcing his previous wife. The allegations of financial misconduct surfaced in a magazine report earlier this year, leading to the recent search and seizure by prosecutors.