Two former ministers of national defense, Tang Yao-ming (湯曜明) and Chen Chao-min (陳肇敏), along with three retired generals, are among the top military officials accused of profiting from insider trading in companies controlled by businessman Weng Mao-chung (翁茂鍾).
As defense ministers, Tang and Chen allegedly enabled Weng to obtain 28 military procurement contracts worth NT$240 million (US$8.5 million).
The two headed up the Ministry of National Defense in the 2000s, and are the latest prominent officials to be caught up in the investigation of a corruption scandal centered on Weng and former Supreme Court judge Shih Mu-chin (石木欽).
Photo: Wu Cheng-feng, Taipei Times
An earlier Control Yuan report implicated more than 200 judges, prosecutors and police officials.
Tang, a retired army general, and Chen, a retired air force general, were named as having profited from insider trading activities orchestrated by Weng, and from receiving gifts from the tycoon.
Three other military officials — a retired army general surnamed Teng (鄧), a retired admiral surnamed Ku (顧) and a retired military police lieutenant general surnamed Liu (劉) were also named, the Chinese-language Mirror Media reported yesterday.
In the investigation of Weng, prosecutors reportedly seized 27 notebooks in which he had recorded the times and locations of meetings, as well as the names of people at banquets, people who were given gifts and people who profited from insider trades, which was allegedly an indirect way of receiving bribes.
While Tang was defense minister (2002-2004) and Chen worked in the minister’s office (2008-2009), Weng as president of Chia Her Industrial — a textile and garment manufacturer based in Tainan, with a number of subsidiaries — won a string of military contracts, Mirror Media reported, citing Weng’s notebooks.
Weng allegedly invited Tang and Chen to numerous banquets and gave them gifts, along with allowing them to purchase company shares at discounted prices so that they could profit from the insider information to make tens of millions New Taiwan dollars, the report said.
Investigators were quoted as saying that there are suspicions of corruption, bid rigging, bribery and illegal benefits for contractors, among other illegal activities by Weng and military officials.
Meanwhile, the ministry said in a statement: “Our ministry conducts all public tenders under the principles of fairness and openness, and adheres to the regulations under the Government Procurement Act (政府採購法); as such, they are not subject to interference by outside forces.”
“Regarding the case investigating Shih and Weng, all ministry units are working to verify the information and will fully cooperate with the investigation,” the statement added.
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