The Taipei District Prosecutors' Office yesterday confirmed that Ministry of Justice special agents raided the offices and home of Ruentex Corp (
Chen Hung-ta (
Prosecutors said they are investigating whether they had overlooked any wrongdoing by associates of Liu's when he was trying to secure his position as the majority shareholder and the chairman of the company by illegally buying stock from minority shareholders.
On June 6, prosecutors recommended a 16-year jail term for Liu on eight charges related to 12 separate corporate scandals.
"Both Chen and Yin worked closely with Liu for years," Chen Hung-ta said yesterday. "Yin even called Liu his mentor. It is necessary for us to investigate them and request their help to clarify many questions during our investigation.
"We summoned Yin last week and we decided that it was necessary to search the places he uses for evidence, so we did. It was truly a coincidence that the raids and Diana Chen's summons occurred at the same time," he said.
Prosecutors on Thursday said they had found no evidence that Diana Chen was connected to Liu's alleged wrongdoing.
When approached by reporters yesterday, Chen Hung-ta said that several important account books had been discovered at Yin's office and residence during the raids on Wednesday.
On Thursday, Chen Chih-chuan (陳志全), who had served as a board member of China Development on Yin's behalf, quit the board.
Prosecutors are also investigating how the KMT lost about NT$80 billion between 1996 and 1997 when Liu, as chairman of the KMT Investment and Business Management Commission, gradually sold his party's majority stake in Bank SinoPac (
Prosecutors said that Bank SinoPac shares cost NT$30 each at the time but Liu sold them at less than NT$20 a share.
Liu then took the income from the deal and invested it in Pan Asia Bank (
After Yin bought the stocks from Liu and became the majority shareholder of Bank SinoPac, he immediately decided to merge the bank with the National Securities Corp (
In 2001, Yin and Liu began to work on a proposal to merge SinoPac Holding Corp and China Development Holding Corp.
MORE VISITORS: The Tourism Administration said that it is seeing positive prospects in its efforts to expand the tourism market in North America and Europe Taiwan has been ranked as the cheapest place in the world to travel to this year, based on a list recommended by NerdWallet. The San Francisco-based personal finance company said that Taiwan topped the list of 16 nations it chose for budget travelers because US tourists do not need visas and travelers can easily have a good meal for less than US$10. A bus ride in Taipei costs just under US$0.50, while subway rides start at US$0.60, the firm said, adding that public transportation in Taiwan is easy to navigate. The firm also called Taiwan a “food lover’s paradise,” citing inexpensive breakfast stalls
US PUBLICATION: The results indicated a change in attitude after a 2023 survey showed 55 percent supported full-scale war to achieve unification, the report said More than half of Chinese were against the use of force to unify with Taiwan under any circumstances, a survey conducted by the Atlanta, Georgia-based Carter Center and Emory University found. The survey results, which were released on Wednesday in a report titled “Sovereignty, Security, & US-China Relations: Chinese Public Opinion,” showed that 55.1 percent of respondents agreed or somewhat agreed that “the Taiwan problem should not be resolved using force under any circumstances,” while 24.5 percent “strongly” or “somewhat” disagreed with the statement. The results indicated a change in attitude after a survey published in “Assessing Public Support for (Non)Peaceful Unification
PLUGGING HOLES: The amendments would bring the legislation in line with systems found in other countries such as Japan and the US, Legislator Chen Kuan-ting said Democratic Progressive Party (DPP) Legislator Chen Kuan-ting (陳冠廷) has proposed amending national security legislation amid a spate of espionage cases. Potential gaps in security vetting procedures for personnel with access to sensitive information prompted him to propose the amendments, which would introduce changes to Article 14 of the Classified National Security Information Protection Act (國家機密保護法), Chen said yesterday. The proposal, which aims to enhance interagency vetting procedures and reduce the risk of classified information leaks, would establish a comprehensive security clearance system in Taiwan, he said. The amendment would require character and loyalty checks for civil servants and intelligence personnel prior to
The China Coast Guard has seized control of a disputed reef near a major Philippine military outpost in the South China Sea, Beijing’s state media said, adding to longstanding territorial tensions with Manila. Beijing claims sovereignty over almost all of the South China Sea and has waved away competing assertions from other countries as well as an international ruling that its position has no legal basis. China and the Philippines have engaged in months of confrontations in the contested waters, and Manila is taking part in sweeping joint military drills with the US which Beijing has slammed as destabilizing. The Chinese coast guard
RSS