Yuanta Group chairman Rudy Ma (馬志玲) yesterday denied charges of breach of trust at a pretrial hearing in a case involving alleged irregular trading.
Ma and his wife, former Yuanta Securities Corp (元大證券) chairwoman Judy Tu (杜麗莊), among others, were indicted a month ago on suspicion of violating breach of trust and the Securities Transaction Act (證券交易法), among other offenses.
Prosecutors have asked the Taipei District Court to sentence Ma and his wife to 10 years in prison.
Along with the couple, Yuanta Securities president Lee Chang (張立秋), bond department assistant manager Wu Li-min (吳麗敏), Yuanta Bank general manager Chen Chi-chang (陳麒漳) and former Yuanta official Lin Ming-yi (林明義) were indicted for alleged involvement. Prosecutors have requested eight-year sentences for each of them.
All six defendants protested their innocence. Five are barred from leaving the country.
The court has yet to announce whether Ma would be barred as well.
Ma’s lawyer said his client had been showing signs of dementia for the past three years and should be allowed to travel to avoid changes to his routine that could have an affect on his condition.
Prosecutors say the irregularities involved the sale of shares of Yuanta Investment Trust Co to Yuanta Securities in 2005 after the former suffered substantial losses from its investment in interest-rate-linked structured notes following a series of rate hikes by the US Federal Reserve.
Prosecutors said that Yuanta Securities made NT$600 million (US$18 million) in illegal profits from the trading.
The Ministry of Education (MOE) is to launch a new program to encourage international students to stay in Taiwan and explore job opportunities here after graduation, Deputy Minister of Education Yeh Ping-cheng (葉丙成) said on Friday. The government would provide full scholarships for international students to further their studies for two years in Taiwan, so those who want to pursue a master’s degree can consider applying for the program, he said. The fields included are science, technology, engineering, mathematics, semiconductors and finance, Yeh added. The program, called “Intense 2+2,” would also assist international students who completed the two years of further studies in
Former president Tsai Ing-wen (蔡英文) departed for Europe on Friday night, with planned stops in Lithuania and Denmark. Tsai arrived at Taiwan Taoyuan International Airport on Friday night, but did not speak to reporters before departing. Tsai wrote on social media later that the purpose of the trip was to reaffirm the commitment of Taiwanese to working with democratic allies to promote regional security and stability, upholding freedom and democracy, and defending their homeland. She also expressed hope that through joint efforts, Taiwan and Europe would continue to be partners building up economic resilience on the global stage. The former president was to first
Taiwan will now have four additional national holidays after the Legislative Yuan passed an amendment today, which also made Labor Day a national holiday for all sectors. The Chinese Nationalist Party (KMT) and Taiwan People’s Party (TPP) used their majority in the Legislative Yuan to pass the amendment to the Act on Implementing Memorial Days and State Holidays (紀念日及節日實施辦法), which the parties jointly proposed, in its third and final reading today. The legislature passed the bill to amend the act, which is currently enforced administratively, raising it to the legal level. The new legislation recognizes Confucius’ birthday on Sept. 28, the
The Taipei District Court sentenced babysitters Liu Tsai-hsuan (劉彩萱) and Liu Jou-lin (劉若琳) to life and 18 years in prison respectively today for causing the death of a one-year-old boy in December 2023. The Taipei District Prosecutors’ Office said that Liu Tsai-hsuan was entrusted with the care of a one-year-old boy, nicknamed Kai Kai (剴剴), in August 2023 by the Child Welfare League Foundation. From Sept. 1 to Dec. 23 that year, she and her sister Liu Jou-lin allegedly committed acts of abuse against the boy, who was rushed to the hospital with severe injuries on Dec. 24, 2023, but did not
RSS