Gary Wang (
The case is currently under investigation.
Chou Chi-peng (
PHOTO: HAKU HUANG, LIBERTY TIMES
Meanwhile, Weng Hung-tsai (
Taiwan Development and Trust last November bought a 72,000m2 plot of land in Yangmei, Taoyuan County, from FESS for about NT$1.8 billion.
According to FESS, the company had bought the land in early 1998 for NT$845 million and further developed it, raising its value.
But prosecutors and investigators believe that land value assessments were illegally influenced, possibly through bribery or kickbacks, wrongly inflating the value of the land.
They were also told that the actual price paid by FESS for the land was just NT$200 million -- significantly less than the NT$845 million purchase fee it claimed to have paid.
Wang yesterday denied such accusations.
"Both the FESS and the TDTC are companies listed on the stock market. The deal was examined and approved by the boards of both companies in pursuing reasonable profits that would benefit all shareholders.
"How could FESS influence the TDTC into buying the land?" he asked.
He also said that he would like to buy the land back from TDTC at the NT$1.8 billion selling price "if questions about the deal continue to be asked."
If he were to do so, he said, FESS alone would exploit the land and create a high-quality neighborhood.
He also criticized the prosecutors and investigators for leaking information about the case to the media during their investigation.
"Such a judgement by the media in advance of the trial will cause harm to the company and its investors," he said, before claiming him and his company innocent of wrongdoing.
Prosecutor Weng, on the other hand, said he has not yet summoned Wang for questioning but will do so in due course.
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