Management Feud Escalates: FTV Executives Accuse Each Other of Embezzling 1.1 Billion NTD

In May 2019, the fierce battle for control of Formosa TV (FTV) continued to escalate. Honorary Chairman Tien Tsai-ting, along with former executives, held a press conference to publicly accuse the current Chairman, Wang Ming-yu, of hollowing out the company's assets. The accusations alleged that Wang used a shell company, "Fuguan Global," to siphon off a staggering 1.1 billion NTD of FTV's public funds, involving breach of trust in multiple investment projects. Although some cases were later dropped due to lack of evidence, this scandal of top television executives engaging in mutual destruction for power, involving massive embezzlement allegations, completely shattered FTV's pristine image as the "People's Television."