Prosecutors yesterday dropped their appeal against the former head of United Microelectronics Corp (UMC), bringing an end to his four-year battle against illegal investment charges.
Robert Tsao (曹興誠) was indicted in 2006 for breach of trust and violation of accounting rules over an investment by UMC in China-based chip-maker Hejian Technology.
He was later cleared by a district court and the High Court due to insufficient evidence, but prosecutors appealed to the Supreme Court, which ordered a new trial last year. However, the prosecution said in a statement that it had decided to rest the case to “maintain the defendant’s rights.”
Tsao stirred up a controversy in March when he accused the bench of violating the Constitution by trying him, before storming out of a court room.
UMC obtained 15 percent of Hejian in a 2005 deal valued at NT$3.5 billion (US$109 -million), which analysts believe was mostly paid in kind via a continuous transfer of valuable technologies.
Taiwan’s authorities had insisted the investment was illegal because it was done without prior approval, but UMC, the world’s second-biggest contract microchip maker, said it informed the government about the transaction.
UMC makes cutting-edge microchips and the technology is highly prized and safeguarded as many are concerned about being overtaken technologically by fast-growing Chinese players. Tsao stepped down as chairman the day he was indicted in an apparent bid to ease the impact on UMC.
UMC had described the indictment as of a “purely political nature” caused by tensions at the time between Taiwan and China. However, controls have been relaxed since the Beijing-friendly Chinese Nationalist Party (KMT) came to power in 2008, allowing high-tech firms to invest in China.
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