Los Angeles-based 99 Ranch Market issued a statement yesterday refuting Chinese Nationalist Party (KMT) Legislator Chiu Yi's (邱毅) allegation that first lady Wu Shu-jen (吳淑珍) had invested in the chain, which specializes in Asian grocery products.
The chain posted the statement on its official Web site, confirming that the company had remained solely in the hands of founder Roger Chen (陳河源) since 1984.
Central News Agency (CNA) reported that Lee Chi-kwang (
"Many people, myself included, watched the TV news from Taiwan about this allegation this morning. However, I must say that it is not true," Lee told CNA.
The supermarket chain was responding to an allegation by Chiu on Tuesday that Wu had invested in the company in a deal worth at least NT$10 million (US$312,000).
Chiu claimed that Wu asked her cousin, surnamed Huang, to handle the transaction. He also said that Wu had instructed Huang to invest under the name of the president's son, Chen Chih-chung (陳致中). Chiu said the deal was proof that the first family planned to emigrate to the US.