Sun, Mar 12, 2006 - Page 3 News List

Taiwan Quick Take: Government gets windfall


The government coffers will soon swell by NT$17.7 billion (US$540 million), as judicial authorities plan to appropriate money siezed in a raid in Chiayi, prosecutors said on Friday. Investigators who were probing a suspected vote-buying scheme unexpectedly cracked an international money-laundering ring. They arrested 22 people, seized NT$400 million in cash and NT$17.3 billion in bank checks and froze overseas deposits worth NT$1.7 billion, in what they called the biggest money-laundering case in the nation's history. After questioning two key suspects, who either denied having laundered money or said that all of the seized funds were "gambling money," prosecutors said the NT$17.7 billion would be confiscated.

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