Thu, Dec 18, 2008 - Page 4 News List

Taipei prosecutors list Yuanta chief as defendant in case

By Jimmy Chuang  /  STAFF REPORTER

The Taipei District Prosecutors’ Office yesterday listed Yuanta Group (元大集團) chairman Rudy Ma (馬志玲) as a defendant in a case amid allegations of stock manipulation.

Taipei District Prosecutors’ Office spokesman Fred Lin (林錦村) said Ma allegedly masterminded Yuanta Securities’ (元大證券) purchase of Yuanta Investment Trust Co (元大投信) stocks to sell them at higher prices and then embezzled as much as NT$1 billion (US$30 million) from the deals in 2005.

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Lin said evidence showed that this case was isolated from investigations targeting former president Chen Shui-bian (陳水扁) and his family.

Lin said Ma was summoned and questioned on Monday and was released on NT$20 million baiSl on Tuesday.

Prosecutors yesterday listed him as a defendant in the case, Lin said, adding that Ma was also barred from relocating or leaving the nation.

Approached for comment, Supreme Prosecutors’ Office Special Investigation Panel spokesman Chen Yun-nan (陳雲南) said he had no idea that the Taipei District Prosecutors’ Office had been investigating Ma.

But Chen Yun-nan said prosecutors from both ends would help each other and work together “whenever necessary.”

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