Thu, May 08, 2003 - Page 4 News List

Prosecutors raided Su Chih-cheng's homes and offices

By Jimmy Chuang  /  STAFF REPORTER

Taipei District Prosecutors' Office Spokesman Chen Hung-ta (陳宏達) yesterday confirmed that prosecutors raided the offices and residences of Tun Yun Corp president Su Chih-cheng's (蘇志誠), searching for evidence that he allegedly helped China Development Holding Corp chairman Liu Tai-ying (劉泰英) launder money from illegal investments and kickbacks.

"Prosecutors and special agents did discover useful evidence at six different locations where Su works and lives. I cannot give you more details while we are still investigating the case because it is against the law," Chen said.

"I would remind you, however, not to believe everything you read in the papers," he said. "For instance, we have not decided to summon any specific witnesses or potential suspects regarding Monday's raid, but there are news stories that have decided whom we will summon."

Chen's comments appeared to be in response to stories in major Chinese-language newspapers' yesterday that said Taipei Chief Prosecutor Lin Jinn-tsun (林錦村) had led a team of special agents from the Ministry of Justice's Bureau of Investigation on raids of Su homes and offices and that prosecutors would soon summon Su and former president Lee Teng-hui (李登輝).

Liu is the head of the Taiwan Research Institute, of which Lee is honorary president and Su served as a former deputy head. He also used to be the KMT's business manager, in charge of managing its assets and making its investments.

Liu has been accused of accepting a NT$1.06 billion kickback from Zanadau's then-vice president, Su Hui-chen (蘇惠珍), who is now the company's majority shareholder. The money was allegedly in return for a promise to help her secure bank financing.

Prosecutors discovered a payments totaling NT$290 million in 1996 and 1997 to Liu's bank accounts that came from a "secret bank account" belonging to Lee.

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