Prosecutors questioned several China Metal Products Group (勤美建設) and Prince Housing and Development Corp (太子建設) employees yesterday, saying they suspected management at the two publicly traded companies had siphoned off billions of NT dollars through the purchase of the Splendor Hotel Taichung’s (日華金典酒店) non-performing loans (NPLs).
Prosecutors requested the detention of four members of China Metal Products staff, including company chairman and founder Ho Ming-shiann (何明憲) in connection with allegations.
Several Prince Housing and Development staff were released or made bail yesterday, including chairman Chuang Nan-tien (莊南田), who cited health reasons and made NT$10 million (US$300,000) bail.
On Tuesday Special Investigation Panel (SIP) prosecutors launched simultaneous raids on more than 50 locations across the country and brought 21 China Metal Products and Prince Housing and Development employees to the Tainan District Prosecutors Office for questioning.
No banks were involved in the disposal of NPLs, prosecutors said.
Tainan District Prosecutors’ Office spokeswoman Lee Ching-wen (李靜文) said management at China Metal Products had allegedly purchased plots of land in Taichung City that they later sold at high prices to dummy accounts to falsify financial records.
Prosecutors also suspect management at the companies of insider trading, breach of trust and forgery.
Lee said company lawyer Twu Ching-shu (?? was believed to be the main figure behind the alleged wrongdoings. After prosecutors received word that Twu was planning to flee the country, they moved to capture him.
“Prosecutors arrived just as Twu, holding a fake passport, was about to try to leave the country,” Lee said.
The Taipei Department of Health yesterday said it has launched a probe into a restaurant at Far Eastern Sogo Xinyi A13 Department Store after a customer died of suspected food poisoning. A preliminary investigation on Sunday found missing employee health status reports and unsanitary kitchen utensils at Polam Kopitiam (寶林茶室) in the department store’s basement food court, the department said. No direct relationship between the food poisoning death and the restaurant was established, as no food from the day of the incident was available for testing and no other customers had reported health complaints, it said, adding that the investigation is ongoing. Later
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