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Prosecutors confirm freezing of assets of former president

Prosecutors in charge of investigating former president Chen Shui-bian's (陳水扁) alleged corruption and money-laundering activities yesterday confirmed they had frozen the bank accounts, stock holdings and real estate holdings of several members of Chen's family.

Chen Yun-nan (陳雲南), spokesperson for the Supreme Prosecutors' Office's Special Investigation Panel (SIP) which is in charge of investigating the cases, said that the SIP had sent official notices to banks, securities companies and government land offices on Oct. 23 requesting that they freeze those assets so that if members of the former first family were found guilty, the illegal profits could be returned.

The frozen assets include NT$8 million (US$250,000) in a savings account held by former first lady Wu Shu-jen (吳淑珍); NT$18 million in a savings account held by Wu's brother Wu Ching-mao (吳景茂); NT$10.3 million in savings held by Chen Shui-bian’s son Chen Chih-chung (陳致中); stock holdings with an estimated market value of NT$24 million held by Chen Chih-chung; NT$10.8 million in savings held by Chen Chih-chung’s wife Huang Jui-ching (黃睿靚); and about NT$100 million in diamonds and other jewelry.

Because there is no evidence that Chen Shui-bian's daughter Chen Hsing-yu (陳幸妤) was involved in the alleged money-laundering activities, her assets had not been frozen, Chen Yun-nan said.

The SIP has also left several bank accounts active, including one the holds Chen Shui-bian's salary as a former president, to provide the former first family with enough money to cover daily expenses, Chen Yun-nan said.

The amount of frozen assets in Taiwan totals about NT$500 million, while the amount of funds left active totals about NT$50 million, he said.
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