Taipei prosecutors said yesterday that Mosel Vitelic Inc (茂矽) Chairman Hu Hung-chiu (胡洪九) is likely involved in two separate embezzlement cases that total approximately NT$12 billion.
"We started by investigating the embezzlement case of the Pacific Electric Wire and Cable Co (太電) and then inadvertently discovered that Hu may also be involved in embezzlement case involving Mosel Vitelic Inc and its subsidiary, ProMOS Technologies Inc (茂德科技)," said Chen Hung-ta (陳宏達), spokesman of the Taipei District Prosecutors' Office.
Initially, Hu was alleged to embezzle more than NT$10 billion from the Pacific Electric Wire and Cable Co during his time as chief financial officer between for the company between 1988 and 1998.
According to Chen, while investigating the first embezzlement case, Taipei Prosecutors Chu Ying-hsiang (朱應翔) and Hsu Yung-chin (許永欽) led a raiding party from the Ministry of Justice yesterday to Hu's offices and residence, where they confiscated personal and business-related financial records.
While examining the confiscated documents, prosecutors discovered that Hu might also have stolen at least NT$2 billion of public funds from the two companies in addition to the initial embezzlement case. He also allegedly manipulated company stocks in the stock market, to the dismay of investors, who lost money, an official said.
A gag order prevented Chen from revealing all the details of the investigation toward the two alleged embezzlement cases. However, local Chinese-language newspapers reported that Chu went to Hong Kong secretly to interrogate two witnesses sometime last month and will use their testimony against Hu.
In the meantime, during the raids at Hu's offices and residence, prosecutors did not locate Hu.
As of press time yesterday, Chen said that prosecutors have not planned to summon Hu but will definitely do so whenever necessary. In addition, prosecutors have not filed a travel ban with the court to prevent Hu from leaving the country.
When called by reporters yesterday morning, Hu and said that he is not hiding and he is not planning on leaving the country.
"I will visit prosecutors in person first thing on Monday morning. I believe that the raids were a necessary measures for prosecutors to do their jobs. No big deal," Hu said.
Former president Tsai Ing-wen (蔡英文) on Monday called for greater cooperation between Taiwan, Lithuania and the EU to counter threats to information security, including attacks on undersea cables and other critical infrastructure. In a speech at Vilnius University in the Lithuanian capital, Tsai highlighted recent incidents in which vital undersea cables — essential for cross-border data transmission — were severed in the Taiwan Strait and the Baltic Sea over the past year. Taiwanese authorities suspect Chinese sabotage in the incidents near Taiwan’s waters, while EU leaders have said Russia is the likely culprit behind similar breaches in the Baltic. “Taiwan and our European
The Taipei District Court sentenced babysitters Liu Tsai-hsuan (劉彩萱) and Liu Jou-lin (劉若琳) to life and 18 years in prison respectively today for causing the death of a one-year-old boy in December 2023. The Taipei District Prosecutors’ Office said that Liu Tsai-hsuan was entrusted with the care of a one-year-old boy, nicknamed Kai Kai (剴剴), in August 2023 by the Child Welfare League Foundation. From Sept. 1 to Dec. 23 that year, she and her sister Liu Jou-lin allegedly committed acts of abuse against the boy, who was rushed to the hospital with severe injuries on Dec. 24, 2023, but did not
LIKE-MINDED COUNTRIES: Despite the threats from outside, Taiwan and Lithuania thrived and developed their economies, former president Tsai Ing-wen said Former president Tsai Ing-wen (蔡英文) on Saturday thanked Lithuania for its support of Taiwan, saying that both countries are united as partners in defending democracy. Speaking at a reception organized by the Lithuania-Taiwan Parliamentary Friendship Group welcoming her on her first visit to the Baltic state, Tsai said that while she was president from 2016 to last year, many Lithuanian “friends” visited Taiwan. “And I told myself I have to be here. I am very happy that I am here, a wonderful country and wonderful people,” Tsai said. Taiwan and Lithuania are in similar situations as both are neighbors to authoritarian countries, she
Taiwanese indie band Sunset Rollercoaster and South Korean outfit Hyukoh collectively received the most nominations at this year’s Golden Melody Awards, earning a total of seven nods from the jury on Wednesday. The bands collaborated on their 2024 album AAA, which received nominations for best band, best album producer, best album design and best vocal album recording. “Young Man,” a single from the album, earned nominations for song of the year and best music video, while another track, “Antenna,” also received a best music video nomination. Late Hong Kong-American singer Khalil Fong (方大同) was named the jury award winner for his 2024 album
RSS