President Chen Shui-bian's (
Chao's father Chao Yu-chu (
Prosecutors alleged the Chaos earned more than NT$100 million (US$3 million) by manipulating Taiwan Development Corp's (TDC) stock prices.
According to prosecutors, Chao Chien-ming's lawyers have said the accounting was not accurate.
Former TDC chairman Su Teh-jien (
Prosecutors indicted Waterland Securities Co board director Tsai Chin-wen (
Nice Group president Chen Jing-yao (陳鏡堯) and manager Hung Min-sen (洪敏森) were indicted for allegedly helping the Chaos manipulate TDC's stock prices.
Prosecutors asked for a two-year sentence for Chen and 18 months for Hung.
Chao Chien-ming's defense attorney Chen Feng-fu (
However, when asked by Presiding Judge Chou Chan-chun (周占春) whether he had anything to say in his own defense, Chao Chien-ming said he had nothing to say.
Yesterday's court session was the final debate between prosecutors and defense counsels. Judge Chou Chan-chun announced that the verdict will be announced at 3pm on Dec. 27.
The indictments are linked to a scandal that erupted earlier this year, when allegations surfaced that Su and Chang Hwa Commercial Bank officials had dined on two occasions with Chao Chien-ming and Yu at a Japanese restaurant in Taipei.
Prosecutors said they believe the men discussed confidential information about TDC, which Chao and his relatives later used to earn profits by trading in TDC shares.
The Ministry of the Interior (MOI) is to tighten rules for candidates running for public office, requiring them to declare that they do not hold a Chinese household registration or passport, and that they possess no other foreign citizenship. The requirement was set out in a draft amendment to the Enforcement Rules of the Public Officials Election and Recall Act (公職人員選舉罷免法 ) released by the ministry on Thursday. Under the proposal, candidates would need to make the declaration when submitting their registration forms, which would be published in the official election bulletin. The move follows the removal of several elected officials who were
FOUR DESIGNATED AREAS: Notices were issued for live-fire exercises in waters south and northwest of Penghu, northeast of Keelung and west of Kaohsiung, they said The military is planning three major annual exercises across the army, navy and air force this month, with the navy’s “Hai Chiang” (海強, “Sea Strong”) drills running from today through Thursday, the Ministry of National Defense said yesterday. The Hai Chiang exercise, which is to take place in waters surrounding Taiwan, would feature P-3C Orion maritime patrol aircraft and S-70C anti-submarine helicopters, the ministry said, adding that the drills aim to bolster the nation’s offshore defensive capabilities. China has intensified military and psychological pressure against Taiwan, repeatedly sending warplanes and vessels into areas near the nation’s air defense identification zone and across
SENATE RECOMMENDATION: The National Defense Authorization Act encourages the US secretary of defense to invite Taiwan’s navy to participate in the exercises in Hawaii The US Senate on Thursday last week passed the National Defense Authorization Act (NDAA) for Fiscal Year 2026, which strongly encourages the US secretary of defense to invite Taiwan’s naval forces to participate in the Rim of the Pacific (RIMPAC) exercise, as well as allocating military aid of US$1 billion for Taiwan. The bill, which authorizes appropriations for the military activities of the US Department of Defense, military construction and other purposes, passed with 77 votes in support and 20 against. While the NDAA authorizes about US$925 billion of defense spending, the Central News Agency yesterday reported that an aide of US
NATIONAL DAY: The ‘Taiwan Dome’ would form the centerpiece of new efforts to bolster air defense and be modeled after Israel’s ‘Iron Dome,’ sources said President William Lai (賴清德) yesterday pledged to strengthen the nation’s air defense capabilities and build a “T-Dome” system to create a safety net against growing military threats from China. “We will accelerate our building of the T-Dome, establish a rigorous air defense system in Taiwan with multi-layered defense, high-level detection and effective interception, and weave a safety net for Taiwan to protect the lives and property of citizens,” he said in his National Day address. In his keynote address marking the Republic of China’s (ROC) 114th anniversary, Lai said the lessons of World War II have taught nations worldwide “to ensure that