Two days after making angry remarks against her father-in-law Chao Yu-chu (趙玉柱), President Chen Shui-bian's (陳水扁) daughter Chen Hsing-yu (陳幸妤) yesterday said that Chao was the chief culprit in an insider-trading case that involved her husband Chao Chien-ming (趙建銘).
The Taiwan High Court on Tuesday rejected the Chaos' appeal of their convictions handed down by the Taipei District Court in connection with the insider trading scandal and instead increased their sentences and fined them each and additional NT$30 million (US$ 927,000).
The convictions were linked to a scandal that erupted last year when allegations surfaced that the Chaos had on two occasions met with people at Mitsui Japanese Restaurant in order to manipulate Taiwan Development Corp (TDC) stock prices.
PHOTO: CHIEN JUNG-FONG, TAIPEI TIMES
Alleged to have attended the meetings were Waterland Securities Co board director Tsai Chin-wen (蔡清文), Chang Hwa Commercial Bank officials, businessman Yu Shih-yi (游世一) and former TDC chairman Su The-jien (蘇德建).
Chen Hsing-yu yesterday said that Chao Yu-chu had asked the banking groups to attend the meetings in order to manipulate the TDC stock price.
However, her husband did not know who was to attend, she said.
"Chao Yu-chu and Tsai Chin-wen are very good friends. They went abroad together ? lived together and ate together," Chen Hsing-yu said.
The two could have easily gotten their insider-trading business done without involving her husband, she said.
If her husband had really intended to make money from insider trading, Chen Hsing-yu said, he would not have arranged the meetings at Mitsui, because prosecutors could easily learn the identities of those attending the restaurant.
On Wednesday, when asked for her thoughts on the court's rejection of her husband's appeal, Chen Hsing-Yu had harsh words for Chao Yu-chu, saying that he should kill himself if he was unable to take responsibility for his actions.
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