The Taiwan High Court yesterday upheld a guilty verdict for Hualien County Commissioner Fu Kun-chi (傅崐萁) on charges of insider trading and market manipulation in a second ruling, handing him an eight-month prison term and ordering repayment of NT$63 million (US$2.07 million) in illegal profits.
Fu was found guilty of contravening the Securities and Exchange Act (證券交易法) in 2003 by manipulating the stock price of Hold-Key Electric Wire and Cable Co (合機電線電纜), when he was a People First Party (PFP) legislator.
Legal proceedings began in August 2005, with the case winding through courts for 12 years. Yesterday’s decision can be appealed.
In the first ruling in 2008, the Taichung District Court found Fu guilty, imposing a 54-month prison term and a NT$50 million fine.
After an appeal, the Taichung branch of the High Court in 2010 found him guilty, handing down a 42-month prison term and a NT$40 million fine.
However, the Taipei branch of the High Court ordered a retrial, which reduced his prison time to nine months.
Following a subsequent appeal, the Supreme Court in 2014 returned the case to the High Court for a second retrial.
In yesterday’s ruling, the court said that as Fu’s insider trading and market manipulation took place in 2003, a penalty reduction was applied based on the 2007 Sentence Commutation Statutes (罪犯減刑條例), as well as the Fair and Speedy Criminal Trials Act (刑事妥速審判法).
Democratic Progressive Party Legislator Tuan Yi-kang (段宜康) questioned whether Fu received “preferential treatment from the justice system,” citing Fu’s involvement in the 1998 Typhone Food Co case.
“All defendants in the Typhone and Hold-Key cases have been serving their jail sentences, except for Fu, who was the main figure,” Tuan said. “The courts have handed him reduced terms, with more lenient sentences after each ruling, and he can still appeal the verdict.”
“Fu should be invited as a special guest at the ongoing judicial reform meetings,” Tuan added.
While Fu was elected as Hualien County commissioner as an independent, his political affiliation has leaned toward the pan-blue camp, as he began his political career with the Chinese Nationalist Party (KMT) before joining the PFP in 2000.
Fu ran for the a legislative seat as elections in 2001 and 2005 as a PFP member, then registered to run in the Hualien County commissioner election as a KMT member in 2009, but was later expelled from the KMT.
In 2009, Fu controversially appointed his wife, now-KMT Legislator Hsu Chen-wei (徐榛蔚), as Hualien County deputy commissioner, which was predicated on the couple filing for divorce.
DOING ENOUGH? The HPA budgets NT$1.3 billion to prevent the health hazards of tobacco, but has no separate budget to fight teen drinking, a doctor said The government should step up alcohol education and prevention efforts, and allocate more of the budget to it, doctors said on Friday, citing the high consumption of alcohol among Taiwanese adolescents. One out of four 12-to-17-year-olds has consumed alcohol, said Yen Tsung-hai (顏宗海), director of Linkou Chang Gung Memorial Hospital’s Department of Clinical Toxicology. The Health Promotion Administration (HPA) budgets NT$1.3 billion (US$43.9 million) annually to prevent the health hazards of tobacco, but it has not allocated a separate budget for preventing teenage drinking or excessive alcohol use, Yen said. “There is no so-called ‘safe drinking level’ for minors,” because any amount consumed
The Fancy Frontier manga and anime expo held in Taipei over the weekend has sparked controversy, after a participant allegedly contravened the Act on Offenses Against Sexual Morality (妨害風化罪) by publicly exposing her private parts during a photo shoot. The two-day event opened at the Expo Dome at the Taipei Expo Park on Saturday, attracting numerous comic and anime creators, cosplayers, photographers and fans. Allegedly, a female cosplayer who was not wearing any underwear lifted up her skirt and revealed her private parts at an outdoor photography area near the venue. Event organizers said yesterday that to prevent indecent exposure, they have since
YOUNGEST PATIENT: Cases of botulism have been only sporadically reported over the past few years, with two in 2015, six in 2016 and none in the past three years The Centers for Disease Control (CDC) yesterday reported the nation’s first case of infant botulism this year, a four-month-old boy in northern Taiwan, as well as five new cases of Japanese encephalitis confirmed last week. The boy was introduced to homemade solid food in the middle of last month, but began to experience constipation and loss of appetite on June 23, CDC Epidemic Intelligence Center Deputy Director Guo Hung-wei (郭宏偉) said, adding that he was taken to the hospital when he developed a fever and shortness of breath on June 25. In the hospital, the boy also experienced a rapid heartbeat, limb
The National Taiwan Museum’s Railway Department Park in Taipei is to open to the public today. The park in Datong District (大同) near the North Gate (北門, Beimen) is one of the museum’s four branches. During the Japanese colonial era, the site housed the railway department of the Office of the Governor-General of Taiwan’s Bureau of Transportation. After World War II, it served as the headquarters for the Taiwan Railways Administration (TRA) for several decades. In 2007, it was listed as a national monument under the Cultural Heritage Preservation Act (文化資產保存法). At an opening ceremony yesterday, Minister of Transportation and Communications Lin Chia-lung
RSS