The Control Yuan has impeached a former labor fund official who was convicted on corruption charges in August, as well as his supervisor, opening the door for the Disciplinary Court to consider punitive measures, the top government watchdog said on Friday.
Five Control Yuan members launched an investigation into Yu Nai-wen (游迺文), a former head of the domestic investment division of the Ministry of Labor’s Bureau of Labor Funds, and Tsay Feng-ching (蔡豐清), who was removed as head of the bureau, over alleged fraud reported to the Agency Against Corruption in September 2020.
The Control Yuan convened on Thursday to review the investigation’s findings and unanimously approved impeachment, its said in a statement.
Photo: CNA
Yu, who was dismissed after he was indicted on charges of corruption and manipulating stock prices in February last year, was sentenced to nine years in prison by the Taipei District Court in August.
The court also found nine of the 11 asset managers indicted guilty of contravening either the Securities and Exchange Act (證券交易法) or the Securities Investment Trust and Consulting Act (證券投資信託及顧問法), or of falsifying documents.
Yu starting in July 2020 colluded with PJ Asset Management Co to use reserves from the Bureau of Labor Funds to purchase shares in the company, helping it to raise NT$500 million (US$16.33 million) in capital, the court said in its ruling.
Yu also used bureau funds to manipulate Far Eastern Department Co share prices, it said.
The Control Yuan said that Yu’s conduct was in contravention of the bureau’s conflict of interest policy.
It said that Yu did not report having meals with stakeholders outside the bureau, and was accused by a former bureau employee of bullying in the workplace.
The Control Yuan also said that Tsay — who the Ministry of Labor moved to a nonmanagement role — demonstrated a lack of oversight.
Tsay had not acted on suggestions made by the bureau’s internal affairs office to move Yu from his post after investigating allegations against him, it said.
Tsay inappropriately nominated Yu as a “model civil servant of the labor ministry,” despite the allegations and Yu being charged with driving under the influence of alcohol, the Control Yuan said.
The Disciplinary Court of the Judicial Yuan is to consider the impeachment and determine if punitive measures are warranted, the Control Yuan said.
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