Six officials from Chung Shing Bank (
Wang Yu-yuan (
Prosecutors say Wang Yu-yuan and Wang Hsuan-jen (王宣仁), the former general manager of the bank, conspired with Huang to allow him to use dummy accounts in order to borrow money from the bank after Huang's credit at Chung Shing neared the bank's legal limit.
According to banking regulations, banks are not allowed to lend more than 40 percent of their net worth from the previous fiscal year to a single customer.
The limit for Chung Shing Bank then was NT$6.615 billion, based on the bank's financial reports, but the prosecution says Huang had borrowed more than NT$7 billion from the bank between 1998 and this year.
But Wang, the 75-year-old former Kaohsiung mayor, claimed yesterday he had only personally authorized two loans to Huang and did not know much about the other loans in question.
At the time he was indicted, Wang said his prosecution was a result of the KMT taking revenge against him for his lukewarm support for the party in the March presidential election.
In 1998, Taiwan Pineapple's stock surged to NT$256 per share, but by December of that same year it had fallen as low as NT$39.4 per share.
The dramatic slump in the company's stock prompted an investigation by prosecutors; Huang was indicted on charges of insider-trading in February this year.
Huang is one of the six defendants in the Chung Shing Bank case.
With two separate trials hearing the excessive loans and insider-trading allegations against him yesterday, Huang was busy rushing between two courtrooms at the district court yesterday.
Huang, who has been barred from leaving the country, asked the judge handling his case to lift the ban yesterday, saying that he must fly to India to take care of a troubled investment. The judge rejected the request.
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