Prosecutors questioned several China Metal Products Group (勤美建設) and Prince Housing and Development Corp (太子建設) employees yesterday, saying they suspected management at the two publicly traded companies had siphoned off billions of NT dollars through the purchase of the Splendor Hotel Taichung’s (日華金典酒店) non-performing loans (NPLs).
Prosecutors requested the detention of four members of China Metal Products staff, including company chairman and founder Ho Ming-shiann (何明憲) in connection with allegations.
Several Prince Housing and Development staff were released or made bail yesterday, including chairman Chuang Nan-tien (莊南田), who cited health reasons and made NT$10 million (US$300,000) bail.
On Tuesday Special Investigation Panel (SIP) prosecutors launched simultaneous raids on more than 50 locations across the country and brought 21 China Metal Products and Prince Housing and Development employees to the Tainan District Prosecutors Office for questioning.
No banks were involved in the disposal of NPLs, prosecutors said.
Tainan District Prosecutors’ Office spokeswoman Lee Ching-wen (李靜文) said management at China Metal Products had allegedly purchased plots of land in Taichung City that they later sold at high prices to dummy accounts to falsify financial records.
Prosecutors also suspect management at the companies of insider trading, breach of trust and forgery.
Lee said company lawyer Twu Ching-shu (?? was believed to be the main figure behind the alleged wrongdoings. After prosecutors received word that Twu was planning to flee the country, they moved to capture him.
“Prosecutors arrived just as Twu, holding a fake passport, was about to try to leave the country,” Lee said.
Taipei and Kaohsiung have extended an open invitation to Japanese pop star Ayumi Hamasaki after Chinese authorities abruptly canceled her scheduled concert in Shanghai. Hamasaki, 47, had been slated to perform on Saturday before organizers pulled the show at the last minute, citing “force majeure,” a move widely viewed as retaliation for Japanese Prime Minister Sanae Takaichi’s recent remark that a Chinese attack on Taiwan could draw a military response from Tokyo. Taipei Mayor Chiang Wan-an (蔣萬安) yesterday said the city “very much welcomes” Hamasaki’s return and would continue to “surprise” her. Hamasaki, who has a large global fan base, including
Starting next month, people who signed up for the TPass 2.0 program can receive a 15 percent rebate for trips on mid to long-distance freeway buses or on buses headed to the east coast twice every month, the Highway Bureau said. Bureau Director-General Lin Fu-shan (林福山) said the government started TPass 2.0 to offer rebates to frequent riders of public transportation, or people who use city buses, highway buses, trains or MRTs at least 11 times per month. As of Nov. 12, 265,000 people have registered for TPass 2.0, and about 16.56 million trips between February and September qualified for
The year 2027 is regarded as the year China would likely gain the capability to invade Taiwan, not the year it would launch an invasion, Taiwanese defense experts said yesterday. The experts made the remarks after President William Lai (賴清德) told a news conference on Wednesday that his administration would introduce a NT$1.25 trillion (US$39.8 billion) special defense budget bill to boost Taiwan’s overall defense posture over the next eight years. Lai said that Beijing aims for military unification of Taiwan by 2027. The Presidential Office later clarified that what Lai meant was that China’s goal is to “prepare for military unification
‘REGRETTABLE’: Travelers reported that Seoul’s online arrival card system lists Taiwan as ‘China (Taiwan),’ the Ministry of Foreign Affairs said The Ministry of Foreign Affairs yesterday urged South Korea to correct the way Taiwan is listed in its newly launched e-Arrival card system, saying the current designation downgrades the nation’s status. South Korea rolled out the online system on Feb. 24 to gradually replace paper arrival cards, which it plans to phase out by next year. Travelers must complete the electronic form up to 72 hours before entering the country. The ministry said it has received multiple complaints from Taiwanese travelers saying that the system lists Taiwan as “China (Taiwan)” in dropdown menus for both “place of departure” and “next
RSS