Prosecutors indict Infodisc founder, three associates

Infodisc Technology founder and former chairman David Lu (呂學仁) was indicted on charges relating to the Securities Exchange Law (證券交易法) on Monday. Prosecutors suggested a 15-year sentence and a NT$500 million fine.

Banciao prosecutors also indicted former Infodisc general manager Tien Cheng-wen (田政溫), former chief financial manager Yu Cheng-tien (喻征天) and Tien's wife, Lo Wen-hui (羅文慧), on the same charges. Prosecutors suggested a seven-year sentence and a fine of NT$50 million each for Tien and Yu. They did not suggest any sentence for Lo.

According to the indictment, Lu, Tien, Yu and Lo are accused of embezzling NT$2.6 billion (US$80.5 million) from the company. During their questioning, prosecutors tried to verify claims that the suspects established fron companies with front bank accounts in foreign countries for the purpose of money laundering.