|
Prosecutors probe KMT's disposal of media companies
By Rich Chang
STAFF REPORTER
Thursday, May 10, 2007, Page 3
The nation's top prosecutor said yesterday that prosecutors are examining the Chinese Nationalist Party's (KMT) sale of its assets to see whether any irregularities were involved.
In December 2005, the KMT sold China Television Co (CTV, 中視), the Broadcasting Corporation of China (BCC) and the Central Motion Pictures Corp (CMPC, 中影) to the China Times Group.
"Prosecutors have gathered documents from the Central Investment Holding Co (中央投資公司), Jung-li Investment Co (榮麗投資公司) and other companies in order to investigate the KMT's sale of its assets," Chen Yun-nan (陳雲南), spokesman for the Supreme Prosecutors Office and its special investigation panel said yesterday.
State public Prosecutor-General Chen Tsung-ming (陳聰明) said yesterday that prosecutors are undertaking an investigation of the KMT case as Democratic Progressive Party (DPP) Legislator Yu Jan-daw (余政道) and Kao Chien-chih (高建智) visited the top prosecutor and asked his investigation team to speed up the probe.
Former DPP chairman Yu Shyi-kun last November filed a suit with prosecutors accusing the KMT and its officials of selling the three companies, worth around NT$15.2 billion (US$456 million), to Jung-li under the China Times Group for just NT$4 billion, accusing it of violating breach of trust (背信罪) and misappropriation (侵占罪) under the Criminal Law.
The China Times Group also took on NT$5.3 billion in debt held by the three companies.
Incorporating into the price, the China Times Group paid a total of NT$9.3 billion to the KMT for the firms.
Central Investment Holding Co, one of the main enterprises owned by the KMT, previously owned 82.56 percent of CMPC's shares.
As part of the KMT's plan to divest itself of its stolen assets before they could be recovered by the government, Jung-li bought CMPC and the two other media firms.
Jung-li, with the help of the KMT, then sold CMPC to Gou Tai-chiang (郭台強), the brother of Hon Hai Precision Industrial Co (鴻海科技) chairman Terry Gou (郭台銘), one of the richest people in Taiwan.
|
