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.
Prosecutors in New Taipei City yesterday indicted 31 individuals affiliated with the Chinese Nationalist Party (KMT) for allegedly forging thousands of signatures in recall campaigns targeting three Democratic Progressive Party (DPP) lawmakers. The indictments stem from investigations launched earlier this year after DPP lawmakers Su Chiao-hui (蘇巧慧) and Lee Kuen-cheng (李坤城) filed criminal complaints accusing campaign organizers of submitting false signatures in recall petitions against them. According to the New Taipei District Prosecutors Office, a total of 2,566 forged recall proposal forms in the initial proposer petition were found during the probe. Among those
ECHOVIRUS 11: The rate of enterovirus infections in northern Taiwan increased last week, with a four-year-old girl developing acute flaccid paralysis, the CDC said Two imported cases of chikungunya fever were reported last week, raising the total this year to 13 cases — the most for the same period in 18 years, the Centers for Disease Control (CDC) said yesterday. The two cases were a Taiwanese and a foreign national who both arrived from Indonesia, CDC Epidemic Intelligence Center Deputy Director Lee Chia-lin (李佳琳) said. The 13 cases reported this year are the most for the same period since chikungunya was added to the list of notifiable communicable diseases in October 2007, she said, adding that all the cases this year were imported, including 11 from
China might accelerate its strategic actions toward Taiwan, the South China Sea and across the first island chain, after the US officially entered a military conflict with Iran, as Beijing would perceive Washington as incapable of fighting a two-front war, a military expert said yesterday. The US’ ongoing conflict with Iran is not merely an act of retaliation or a “delaying tactic,” but a strategic military campaign aimed at dismantling Tehran’s nuclear capabilities and reshaping the regional order in the Middle East, said National Defense University distinguished adjunct lecturer Holmes Liao (廖宏祥), former McDonnell Douglas Aerospace representative in Taiwan. If
The Mainland Affairs Council (MAC) today condemned the Chinese Communist Party (CCP) after the Czech officials confirmed that Chinese agents had surveilled Vice President Hsiao Bi-khim (蕭美琴) during her visit to Prague in March last year. Czech Military Intelligence director Petr Bartovsky yesterday said that Chinese operatives had attempted to create the conditions to carry out a demonstrative incident involving Hsiao, going as far as to plan a collision with her car. Hsiao was vice president-elect at the time. The MAC said that it has requested an explanation and demanded a public apology from Beijing. The CCP has repeatedly ignored the desires
RSS