Prosecutors have filed formal charges against KMT legislator Kuo Ting-tsai (
Fan Wen-chin (
Kuo, along with Hsu Shu-chin (許淑卿), the credit co-op's director, and 10 others have been indicted on charges of breach of trust, fraud and falsifying securities certifi-cates.
PHOTO: LIBERTY TIMES
Fan stated that the evidence gathered by his staff shows that Kuo played a major role in the bank scandal.
He said Kuo and Hsu used their positions at the head of the co-op to instruct accountants to falsify account books and certificates of deposit in order to embezzle NT$2.3 billion from an agricultural firm and a local bank whose funds were deposited in the co-op.
Summonses have been issued for others involved in the scandal, with bail for the suspects set between NT$50,000 and NT$100,000.
Kuo, meanwhile, showed up at the Legislative Yuan early yesterday to register for the new legislative session. Kuo previously failed to appear in court after being issued two summonses.
He later disappeared, leading the court to issue a warrant for his arrest on Aug. 26. Kuo's position as a legislator grants him immunity from arrest and detention while the lawmaking body is in session, unless the Legislative Yuan voids this privilege.
Kuo claimed he had not received either of the two summonses issued by the Pingtung County Prosecu-tors' Office (
He repeatedly told reporters he had not tried to evade the summonses, and stated he would appear at the Pingtung County Prosecutors' Office within the next few days.
Kuo, who has recently undergone a minor surgical procedure, looked pale and tired. The left side of his face was still paralyzed from the operation, adding to his haggard appearance.
"The Ministry of Finance should bear part of the responsibility for the scandal in Tungkang," Kuo said. "I'm only nominally responsible. Most of my time is spent in the legislature. They're the experts -- if they can't get to the bottom of all the problems, how do they expect me to figure things out?
"If prosecutors are going to indict me, that's fine. I would never advise anyone not to take legal action against me," he said.
Kuo also claimed that he was not involved in any wrongdoing at the bank. "If I had embezzled money from the cooperative, I wouldn't need to put up my own property as collateral for loans. I could save the money on interest, and wouldn't have to run around trying to repay all these loans," he said.
Kuo is a long-time member of the Finance Committee of the Legislative Yuan, and registered with the committee this morning.
When asked whether he would use his committee position to press his case with officials of the Central Deposit Insurance Corp (
NEXT GENERATION: The four plants in the Central Taiwan Science Park, designated Fab 25, would consist of four 1.4-nanometer wafer manufacturing plants, TSMC said Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) plans to begin construction of four new plants later this year, with the aim to officially launch production of 2-nanometer semiconductor wafers by late 2028, Central Taiwan Science Park Bureau director-general Hsu Maw-shin (許茂新) said. Hsu made the announcement at an event on Friday evening celebrating the Central Taiwan Science Park’s 22nd anniversary. The second phase of the park’s expansion would commence with the initial construction of water detention ponds and other structures aimed at soil and water conservation, Hsu said. TSMC has officially leased the land, with the Central Taiwan Science Park having handed over the
AUKUS: The Australian Ambassador to the US said his country is working with the Pentagon and he is confident that submarine issues will be resolved Australian Ambassador to the US Kevin Rudd on Friday said that if Taiwan were to fall to China’s occupation, it would unleash China’s military capacities and capabilities more broadly. He also said his country is working with the Pentagon on the US Department of Defense’s review of the AUKUS submarine project and is confident that all issues raised will be resolved. Rudd, who served as Australian prime minister from 2007 to 2010 and for three months in 2013, made the remarks at the Aspen Security Forum in Colorado and stressed the longstanding US-Australia alliance and his close relationship with the US Undersecretary
‘WORLD WAR III’: Republican Representative Marjorie Taylor Greene said the aid would inflame tensions, but her amendment was rejected 421 votes against six The US House of Representatives on Friday passed the Department of Defense Appropriations Act for fiscal 2026, which includes US$500 million for Taiwan. The bill, which totals US$831.5 billion in discretionary spending, passed in a 221-209 vote. According to the bill, the funds for Taiwan would be administered by the US Defense Security Cooperation Agency and would remain available through Sept. 30, 2027, for the Taiwan Security Cooperation Initiative. The legislation authorizes the US Secretary of Defense, with the agreement of the US Secretary of State, to use the funds to assist Taiwan in procuring defense articles and services, and military training. Republican Representative
TAIWAN IS TAIWAN: US Representative Tom Tiffany said the amendment was not controversial, as ‘Taiwan is not — nor has it ever been — part of Communist China’ The US House of Representatives on Friday passed an amendment banning the US Department of Defense from creating, buying or displaying any map that shows Taiwan as part of the People’s Republic of China (PRC). The “Honest Maps” amendment was approved in a voice vote on Friday as part of the Department of Defense Appropriations Act for the 2026 fiscal year. The amendment prohibits using any funds from the act to create, buy or display maps that show Taiwan, Kinmen, Matsu, Penghu, Wuciou (烏坵), Green Island (綠島) or Orchid Island (Lanyu, 蘭嶼) as part of the PRC. The act includes US$831.5 billion in
RSS