President Chen Shui-bian's (
Chao Chien-ming was released on NT$10 million bail.
Taipei prosecutors have recommended an eight-year sentence for Chao Chieh-ming and a 10 year term for his father. They also asked the Taipei District Court to fine each man NT$30 million (US$927,000).
"Chao Chien-ming, Chao's father Chao Yu-chu, former TDC chairman Su Teh-jien (
He said the five were indicted for violations of the Securities Transaction Law (
Because Chao, his father, Su and Yu have refused to admit guilt and have not shown any regret for their actions, prosecutors have asked the court to give them lengthy sentences, Lin said.
They asked for a 10-year term for Yu and eight years for Su.
Since Tsai admitted his guilt and has turned witness for the prosecution, the prosecutors asked the court to just give him probation, Lin said.
The scandal dates back to last summer when Su, Chang Hwa Commercial Bank chairman Chang Po-shin (張伯欣) and Chang Hwa president Chen Chen-chao (陳辰昭) dined on two occasions with Chao Chien-ming, Tsai and Yu at a Japanese restaurant in Taipei.
Prosecutors believe confidential information about TDC was discussed on both occasions, noting that Chao Chien-ming, his father, Tsai and Yu all bought large amounts of TDC shares shortly afterwards.
Chao's father was also indicted on charges of misappropriation. Lin said the elder Chao is suspected of having embezzled a total of NT$13.5 million from five people.
Lin said prosecutors discovered that in 2003, Eslite Books chairman Robert Wu (吳清友) deposited NT$10 million into one of Chao Yu-chu's bank accounts as a donation to the Taiwan Table Tennis Association, which was headed by the elder Chao.
Chao Yu-chu alone controlled the account into which the money was deposited, Lin said.
He said Chao-Yu-chu is also suspected of embezzling NT$1 million from Chen Huei-yu (陳慧遊), who was formerly responsible for managing the first family's residence; NT$500,000 from former Taoyuan General Hospital chief Ho Fong-ming (何豐名); NT$1 million from Industrial Bank chairman Benny Hu (胡定吾) and another NT$1 million from businessman Chao Yuan-chi (趙緣旗).
In other developments, the brother of Nice Group president Chen Jer-fang (
Prosecutors believe that the money was a bribe for Chao Chien-ming's efforts to help Chen Jer-fang win the leadership of Waterland Financial Holdings Co last year, Lin said.
There was not sufficient evidence that the Chao family was attempted to manipulate the leadership race, so neither Chao Chien-ming or his father were charged in that regard, Lin said.
He also said that Chang Po-shin and Chen Chen-chao, along with Chao Chien-ming's mother, Chien Shui-mien (
Presidential Office Spokesman David Lee (李南陽) would not comment on the indictments except to say that the president had a heavy heart after hearing the news, but he respected the decisions of the judicial system. The president did not learn of the indictment until after his meeting with Alfredo Pacheco, head of Dominican Republic's parliament, yesterday morning.
Additional reporting by Ko Shu-ling
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