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Su provides background of Zanadau scandal

Zanadau shareholder Su Hui-chen repeats accusations against Lee Ming-che, another shareholder, former KMT business manager Liu Tai-ying and former independent lawmaker Lo Fu-chu at a press conference yesterday. Su says Lee and Liu accepted kickbacks in exchange for helping Zanadau get bank financing. PHOTO: GEORGE TSORNG, TAIPEI TIMES

Zanadau Development Corp's (新瑞都) major shareholder, Su Hui-chen (蘇惠珍), added to her accusations against Lee Ming-che (李明哲), another Zanadau shareholder, and former KMT business manager Liu Tai-ying (劉泰英) at a press conference yesterday.

On Sept. 16, Su, who once served as Zanadau's vice president and as a Kaohsiung County councilor, accused Lee and Liu of accepting kickbacks at a press conference called by DPP Legislator Liang Mu-yang (梁牧養).

Yesterday, also with Liang's help, Su repeated her allegations and said that Lee and Liu used to be brokers and accepted large kickbacks when they were asked for help.

According to Su, Lee and Hsu Juei-fan (許瑞芬), a major shareholder of Dashin Securities (大信証券), were friends. Two years ago, Hsu asked Lee if he could find an investor to assist Dashin, which faced a financial crisis.

Lee introduced Hsu to former independent lawmaker Lo Fu-chu (羅福助), who became the biggest shareholder and president of the company. Lo appointed Lee as financial controller of Dashin in return, according to Su.

"Lee often said, `Lo owes me one.' Well, this is what he was talking about," Su said.

According to Su, since Lee and Liu are close friends, Lo helped Liu to secure the position of chairman of the China Development Financial Holding Corp (中華開發) by purchasing the company's stocks with Dashin's money and endorsing Liu at the company's shareholders' meetings.

In addition, Su said, Liu promised Lo that China Development Financial Holding Corp would help resolve Dashin's financial problems by taking over the company, but he "requested NT$200 million as a kickback," which Lo never paid.

The acquisition never took place.

"The reason why I told you these stories is that I want you to know what kind of people Liu and Lee really are," Su said.

China Development Financial Holding Corp denied Su's accusations in a press release.

Liu and Lo did not comment on the matter.

The Taipei District Prosecutors' Office has banned Lee from leaving the country because he may be the subject of criminal prosecution. Lee has also refused to comply with a summons to report to prosecutors on Sept. 18.

Su's initial accusation of Sept. 16 said Lee and Liu requested a NT$1.15 billion kickback in exchange for helping Zanadau raise NT$11.5 billion from domestic banks.

Su said that she paid NT$75 million but her company didn't secure bank financing.

However, two days later, after Su was summoned by the Bureau of Investigation, she held another press conference and changed her story. At the second press conference Su said that she told bureau agents and prosecutors that she paid NT$1.06 billion to Lee's account.
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