Fri, Oct 20, 2006 - Page 12 News List

Taiwan Lottery Co names acting chief

By Jackie Lin  /  STAFF REPORTER

Taiwan Lottery Co (台灣彩券公司), a subsidiary of Chinatrust Commercial Bank (中國信託商銀), decided yesterday afternoon that president Chang Ruu-tian (張汝恬) would serve as acting chairman after chairman Deng Yan-dun (鄧彥敦) was detained by prosecutors yesterday morning.

Wheelchair-bound Deng, chairman of the newly established firm which will start issuing public lotteries starting next year, was listed as a defendants on Wednesday because of his role as chief legal adviser to Chinatrust Financial Holding Co (中信金控), the bank's parent company.

Prosecutors have launched an investigation into Chinatrust Financial over its controversial investment in Mega Financial Holding Co (兆豐金控).

In addition to Deng, the financial holding firm's vice chairman Jeffrey Koo Jr (辜仲諒), former chief financial officer Perry Chang (張明田), and vice general manager Lin Hsiang-hsi (林祥曦) have been named as defendants. Chang and Lin have also been detained by prosecutors.

Taiwan Lottery Co said the firm will not remove Deng from his post unless he is found guilty, but the Ministry of Finance said it would demand Chinatrust Commercial submit a report because the head of a lottery company should adhere to high moral standards.

Chinatrust Commercial's exclusive right to operate lotteries over the next seven years is not affected, Liu said.

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