The Taiwan High Court yesterday upheld its seven-year sentence on Chao Chien-ming (趙建銘), son-in-law of former president Chen Shui-bian (陳水扁), who was convicted of breach of trust in December 2006 as part of an insider trading scandal.
The ruling followed a retrial of the case and the court announced that it also upheld Chao’s NT$30 million (US$1.05 million) fine. However, the court reduced by one year the prison sentence for his father, Chao Yu-chu (趙玉柱), charged in the same case, from nine-and-a-half years, but also upheld his NT$30 million fine.
The two Chao’s were indicted in July 2006, along with two businessmen, on charges of manipulating Taiwan Development Corp’s (TDC) stock prices through insider trading.
Former TDC chairman Su Teh-chien (蘇德建) and businessman Yu Shih-yi (游世一) were both given a sentence of seven years and two months, plus fines of NT$60 million.
All four men can still appeal their sentences to the Supreme Court.
In the latest ruling, the high court said the illicit gains in the case amounted to NT$116 million, rather than the NT$100 million cited in its previous ruling. Chao Chien-ming’s lawyers have -disputed the accuracy of these figures
During the original trial, Chao Chien-ming was given six years and fined NT$30 million, while his father was sentenced to eight years and four months plus a fine of NT$30 million. The sentences were amended in a later trial.
Yu was sentenced to four years and three months during the original trial and fined NT$60 million, while Su was given a sentence of four years and three months.