The Taiwan High Court late on Thursday rejected a third appeal by the Taipei Prosecutor's Office against a lower court ruling that freed on bail three indicted insider trading suspects, including President Chen Shui-bian's (
The high court made the ruling in response to the prosecutors' Aug. 7 appeal seeking to have the three suspects, and Chao in particular, detained again on the grounds that their crimes warrant continued detention in line with existing legal provisions.
In its response to the prosecutors' two previous appeals, the high court rescinded the Taipei District Court's bail ruling for the three suspects in the Taiwan Development Corp. (TDC) stock insider trading scandal and demanded that it take a second look at the case.
The high court said that the three suspects do not warrant a "preventive detention" as prescribed in Article 101 of the Criminal Procedure Law (
As to prosecutors' misgivings that Chao may jump bail or flee the country, the high court said that given Chao's high-profile status, it's virtually possible for Chao to flee abroad.
As a result, the high court rejected prosecutors' appeal seeking the continued detention of the trio.