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Taipei prosecutors say Fubon Financial chief investment officer may have fled

Taipei prosecutors said yesterday they suspected that Fubon Financial Holding Co chief investment officer Daniel Chiang (蔣國樑) had fled the country.

Chiang was detained by the Taipei District Court last July on allegations of insider trading, but after his attorneys filed an appeal saying Chiang suffered from diabetes and his health condition would worsen if he stayed in jail, the court released him on NT$5 million (US$165,000) bail in September. He was also prohibited from moving out of his current residence or from leaving the country.

Prosecutors said Chiang failed to answer a summons twice this month, adding that they would issue an arrest warrant if Chiang failed to appear for a third time.

They said they had issued a warning to customs officials and police to prevent Chiang from leaving the country.

Two of Chiang’s attorneys told the Chinese-language Liberty Times (the Taipei Times’ sister paper) that they had been unable to contact Chiang.

The attorneys said they would continue to look for him.

Chiang is suspected of earning more than NT$100 million from the alleged insider trading of Hsinchu International Bank shares in connection with Standard Chartered Bank’s acquisition of the Hsinchu lender in 2006.


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