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.
Taiwan would benefit from more integrated military strategies and deployments if the US and its allies treat the East China Sea, the Taiwan Strait and the South China Sea as a “single theater of operations,” a Taiwanese military expert said yesterday. Shen Ming-shih (沈明室), a researcher at the Institute for National Defense and Security Research, said he made the assessment after two Japanese military experts warned of emerging threats from China based on a drill conducted this month by the Chinese People’s Liberation Army’s (PLA) Eastern Theater Command. Japan Institute for National Fundamentals researcher Maki Nakagawa said the drill differed from the
‘WORSE THAN COMMUNISTS’: President William Lai has cracked down on his political enemies and has attempted to exterminate all opposition forces, the chairman said The legislature would motion for a presidential recall after May 20, Chinese Nationalist Party (KMT) Chairman Eric Chu (朱立倫) said yesterday at a protest themed “against green communists and dictatorship” in Taipei. Taiwan is supposed to be a peaceful homeland where people are united, but President William Lai (賴清德) has been polarizing and tearing apart society since his inauguration, Chu said. Lai must show his commitment to his job, otherwise a referendum could be initiated to recall him, he said. Democracy means the rule of the people, not the rule of the Democratic Progressive Party (DPP), but Lai has failed to fulfill his
OFF-TARGET: More than 30,000 participants were expected to take part in the Games next month, but only 6,550 foreign and 19,400 Taiwanese athletes have registered Taipei city councilors yesterday blasted the organizers of next month’s World Masters Games over sudden timetable and venue changes, which they said have caused thousands of participants to back out of the international sporting event, among other organizational issues. They also cited visa delays and political interference by China as reasons many foreign athletes are requesting refunds for the event, to be held from May 17 to 30. Jointly organized by the Taipei and New Taipei City governments, the games have been rocked by numerous controversies since preparations began in 2020. Taipei City Councilor Lin Yen-feng (林延鳳) said yesterday that new measures by
A rally held by opposition parties yesterday demonstrates that Taiwan is a democratic country, President William Lai (賴清德) said yesterday, adding that if opposition parties really want to fight dictatorship, they should fight it on Tiananmen Square in Beijing. The Chinese Nationalist Party (KMT) held a protest with the theme “against green communists and dictatorship,” and was joined by the Taiwan People’s Party. Lai said the opposition parties are against what they called the “green communists,” but do not fight against the “Chinese communists,” adding that if they really want to fight dictatorship, they should go to the right place and face
RSS