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Former FSC spokesman sentenced to 16 years in jail

Former Financial Supervisory Commission (FSC) spokesman Lin Chung-cheng (林忠正) was sentenced to 16 years in jail yesterday by the Taipei District Court in his first corruption trail.

Lin was found guilty of accepting bribes and illegally lobbying for several companies, including China Development Financial Holding Corp (中華開發金控) during its hostile takeover bid for Taiwan International Securities Corp (金鼎證券公司).

The ruling said Lin accepted bribes in return for insider stock market information to which he had access as a FSC official.

Lin and his secretary, Su Jun-ji (蘇俊吉), accepted money, valuable gifts and a cabin in Sijhih (汐止), Taipei County, worth between NT$3 million (US$90,600) and NT$5 million, the ruling said.

Su and Tsuei Mei-lan (崔梅蘭), an official from China Development Financial, were also charged with corruption and offenses relating to the protection of trade secrets.

Su, who became a witness for the prosecution, was sentenced to two years, but because he received probation he will not serve time. Tsuei was sentenced to 15 months in jail. Both Lin and Tsuei can appeal with the Taiwan High Court, the district court said yesterday.

Lin Chung-cheng, 52, resigned from the FSC last month following a court order to detain him. Before joining the FSC in March 2005, Lin was a Democratic Progressive Party legislator.
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