Prosecutors investigating former president Chen Shui-bian’s (陳水扁) alleged corruption and money laundering activities yesterday downplayed a media report that Fubon Financial Holding Co chairman Daniel Tsai (蔡明忠) had provided evidence against Chen to investigators.
The denials came after the Chinese-language Next Magazine reported yesterday that the Supreme Prosecutor’s Office’s Special Investigation Panel (SIP) secretly questioned Tsai and that he offered key evidence incriminating the former president.
CASH FOR APPROVAL?
Tsai reportedly told prosecutors that prior to the merger between Cathay Financial Holdings and Cathay United Bank, the family of Tsai Wan-lin (蔡萬霖) gave NT$500 million (US$16 million) to the Chen family. In exchange, Chen pressured the Ministry of Finance to approve the merger, the magazine cited Daniel Tsai as saying.
SIP spokesperson Chen Yun-nan (陳雲南) said that parts of the magazine report were false, but declined to say which parts.
In response to reports that the SIP would question Chen Shui-bian’s children, Chen Chih-chung (陳致中) and Chen Hsing-yu (陳幸妤), on embezzlement charges next week, the spokesperson said only that prosecutors would summon the necessary witnesses as the case develops.
In addition to corruption and money laundering convictions being reviewed by the Taiwan High Court, the former president has also been charged with embezzling secret diplomatic funds. Prosecutors are also investigating additional counts of money laundering.
Chen is suspected of accepting NT$200 million (US$6.1 million) in bribes related to Yuanta Financial Holding’s April 2007 merger with Fuhwa Financial Holding Co, then the nation’s 11th-largest financial group by assets.
He is also suspected of accepting another NT$340 million from former Chinatrust Financial Holding Co vice chairman Jeffrey Koo Jr (辜仲諒) in connection with Chinatrust’s failed takeover bid of Mega Financial Holding Co.
Prosecutors have said they are still investigating other unnamed businesspeople who are suspected of bribing the former first couple as a form of “protection” during the second financial reform while he was in office.
SONG FROM PRISON
In related news, the former president’s office said yesterday that he would release a CD about Taiwanese independence.
“The single-song CD is entitled One Country on Each Side. We are raising money so that we can release it in December,” a staff member from Chen’s office said.
“Chen Shui-bian wrote the lyrics. Composer Wang Ming-cheh (王明哲) wrote the music,” she said.
It was not clear whether Chen would record the song himself.
The office release the lyrics, which say: “Taiwan and China, one country on each side/ Taiwanese, oh Taiwanese, be brave and don’t hesitate/ Seek independence, fight for the future, build a beautiful country.”
Since his detention last November, Chen has published two books on his fight for Taiwan independence: The Cross of Taiwan, and The Voice that Cannot be Chained.
ADDITIONAL REPORTING BY DPA
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