Tue, Feb 06, 2007 - Page 2 News List

Control Yuan fines grand justice for failure to declare stock transactions

By Rich Chang  /  STAFF REPORTER

The Control Yuan yesterday decided to fine Grand Justice Lin Tzu-yi (林子儀) NT$180,000 (US$5,400) for failing to declare his assets.

Hsieh Yu-nan (謝育男), director of the Control Yuan's Public Functionary Assets Disclosure Department, said that based on regulations governing assets disclosure by senior officials, stock transactions that exceed NT$10 million should be reported to the Control Yuan. However, Lin failed to report three stock transactions that exceeded NT$10 million last year, Hsieh said.

The law also states that officials who fail to report such transactions are to be fined NT$60,000 to NT$300,000, Hsieh said.

As Lin later voluntarily reported the transactions, the Control Yuan decided to fine him a total of NT$180,000 for the three transactions.

Lin told reporters yesterday that he did not intend to hide his assets and did voluntarily report the transactions after finding out that he had neglected to file an asset report.

Lin last year reported more than NT$200 million in private assets, making him the richest among the 13 grand justices, reports said. Lin, who became a grand justice in 2003, was the first grand justice to be fined for failing to declare his assets.

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