Hundreds of Billions of Won ‘Auto Parts Loan Fraud’ Discovered at Welcome Savings Bank… Financial Supervisory Service Conducts Full Investigation
2 Articles
2 Articles
A loan fraud scheme worth tens of billions of won, secured by accounts receivable for auto parts, has been uncovered at Welcome Savings Bank, the fourth-largest in the industry. As the Financial Supervisory Service (FSS) launched an on-site inspection, a comprehensive investigation into similar cases has also begun. According to financial authorities and the financial sector on the 29th, Welcome Savings Bank voluntarily reported to the FSS after…
A few hundred members of the Tartu Savings and Loan Association (THLÜ) elected a new council on Tuesday, bringing the association's former leader Andro Roos back to power. It was a clever scheme, as it bypassed the requirement for more than half of the members to vote. Now the new management hopes to escape bankruptcy proceedings.
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