Wed, Dec 22, 2004 - Page 2 News List

Prosecutors indict Infodisc founder, three associates

STAFF WRITER

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.

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