Sun, Jul 02, 2017 - Page 1 News List

Taipei court grants request to detain Farglory founder

Staff writer, with CNA

Farglory Group founder Chao Teng-hsiung, right, is escorted yesterday at the Taipei District Court, where he was refused bail and ordered detained.

Photo: Fang Pin-chao, Taipei Times

The Taipei District Court yesterday afternoon granted prosecutors’ requests to detain Farglory Group (遠雄集團) founder Chao Teng-hsiung (趙藤雄) and New Taipei City Councilor Chou Sheng-kao (周勝考) on suspicion of bribery and embezzlement.

The court said it approved the request to detain the duo due to the likelihood of collusion with accomplices or witnesses and the opportunity to destroy, fabricate or falsify evidence.

Although Chao asked the court to allow him to be released on bail, citing poor health, the court denied his request and issued the approval for his detention.

Chao has been accused by prosecutors of embezzling funds from Farglory Life Insurance Co (遠雄人壽) in 2007 and 2008.

He is also suspected of bribing Chou and other New Taipei City officials in 2013 to facilitate the rezoning of a former coal mine in Tucheng District (土城) and a factory in Sinjhuang District (新莊).

Law enforcement officials on Thursday raided the offices of the New Taipei City Government, the New Taipei City Council and Farglory Group to collect materials and summoned 66 people, including Chao, Chou and about 30 Farglory employees, for questioning.

In the rezoning case, New Taipei City Urban and Rural Development Planning Department deputy chief engineer Hai Chih-ping (海治平) and Urban Planning Committee member Liu Yan-chiao (劉演交), who are accused of accepting bribes, were on Friday released on bail of NT$150,000 and NT$200,000 (US$4,928 and US$6,571) respectively.

Former National Taipei University of Technology professor Tsai Jen-hui (蔡仁惠), who allegedly played the role of intermediary, was released on bail of NT$100,000.

In the alleged embezzlement case, Farglory Life president George Chao (趙信清) and Farglory Group accountant division deputy director Hsu Tzu-chiang (許自強) were released on bail of NT$1 million and NT$500,000 respectively.

Farglory Group yesterday issued a statement saying operations and finances of the group’s various businesses remain normal, despite the court approving the request to detain Chao Teng-hsiung.

The group also pledged to cooperate with investigations into its founder, but expressed regret over the court’s action.

The group said it would appeal after learning more about the case.

This story has been viewed 14148 times.

Comments will be moderated. Keep comments relevant to the article. Remarks containing abusive and obscene language, personal attacks of any kind or promotion will be removed and the user banned. Final decision will be at the discretion of the Taipei Times.

TOP top