Taipei prosecutors yesterday indicted Tung Ching-yun (
Tung and former Pacific Electric executive director Chen Kwang-lung (
Prosecutors accused Tung and Chen of embezzling a total of NT$54 million (US$1.6 million) from Pacific Electric in 2002 through fake business transactions.
The pair is also suspected of embezzling NT$20 million from a Pacific Electric subsidiary in 2003, prosecutors said, adding that these actions resulted in the collapse of the company.
Tung was first indicted in December 2004, along with Mosel Vitelic Inc (
Tung is suspected of making NT$700 million through share price manipulation.
Prosecutors indicted Tung in 2004 for fraud, breach of trust and violations of the Securities and Exchange Law (
Taipei prosecutors yesterday said that Tung's new indictment would be combined with his first charge.