First Commercial Bank (第一銀行) chairman Jerome Chen (陳建隆) was indicted yesterday for using bank resources in bank supervisor Charles Chiang's (江昭儀) DPP legislative primary election bid.
The Taipei District Prosecutors office charged Chen with breach of trust and recommended that the court announce its verdict in summary procedure, calling Chen's confession during its investigation and other evidence sufficient for the court to render a guilty verdict.
The prosecution said that during the investigation Chen agreed to accept a penalty of less than 50 days in prison and a fine of NT$578,000 -- the sum of money he misused -- without a suspension of his sentence.
The scandal was revealed by PFP legislator Chen Chao-jung (
Chiang was to run in February's DPP legislative primary in Changhua County. In a bid to help Chiang win the election, Chen, in his capacity as bank chairman, sent letters to the bank's clients in the county, asking them to vote for Chiang.
According to the indictment, Chen ordered the printing of the 126,486 letters, which cost NT$110,000. The address labels on the envelops were estimated to cost NT$25,297 and postage for the letters came to NT$442,701, all financed with bank funds.
The prosecutors said Chen misused bank resources to carry out affairs irrelevant to the business of the bank or his position as chairman.
The Ministry of Finance fined Chen NT$60,000 earlier this month for using confidential customer information to help Chiang's campaign bid. The ministry also asked Chen to return the money he misused. Chen earlier expressed repentance and said he would not misuse his post again.
Opposition party lawmakers have criticized Minister of Finance Yen Ching-chang (顏慶章) for allowing Chen to remain in his position as the bank's chairman.
CARROT AND STICK: While unrelenting in its military threats, China attracted nearly 40,000 Taiwanese to over 400 business events last year Nearly 40,000 Taiwanese last year joined industry events in China, such as conferences and trade fairs, supported by the Chinese government, a study showed yesterday, as Beijing ramps up a charm offensive toward Taipei alongside military pressure. China has long taken a carrot-and-stick approach to Taiwan, threatening it with the prospect of military action while reaching out to those it believes are amenable to Beijing’s point of view. Taiwanese security officials are wary of what they see as Beijing’s influence campaigns to sway public opinion after Taipei and Beijing gradually resumed travel links halted by the COVID-19 pandemic, but the scale of
TRADE: A mandatory declaration of origin for manufactured goods bound for the US is to take effect on May 7 to block China from exploiting Taiwan’s trade channels All products manufactured in Taiwan and exported to the US must include a signed declaration of origin starting on May 7, the Bureau of Foreign Trade announced yesterday. US President Donald Trump on April 2 imposed a 32 percent tariff on imports from Taiwan, but one week later announced a 90-day pause on its implementation. However, a universal 10 percent tariff was immediately applied to most imports from around the world. On April 12, the Trump administration further exempted computers, smartphones and semiconductors from the new tariffs. In response, President William Lai’s (賴清德) administration has introduced a series of countermeasures to support affected
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
Pope Francis is be laid to rest on Saturday after lying in state for three days in St Peter’s Basilica, where the faithful are expected to flock to pay their respects to history’s first Latin American pontiff. The cardinals met yesterday in the Vatican’s synod hall to chart the next steps before a conclave begins to choose Francis’ successor, as condolences poured in from around the world. According to current norms, the conclave must begin between May 5 and 10. The cardinals set the funeral for Saturday at 10am in St Peter’s Square, to be celebrated by the dean of the College
RSS