Radio Taiwan International
Date: 2017-11-21
Premier William Lai says that the Ministry of Justice is investigating Taiwan’s largest
private shipbuilder — Ching Fu Shipbuilding. The company is embroiled in a fraud scandal involving a defense ministry contract to build six minesweepers.
Lai spoke on Tuesday about the investigation.
“When it comes to the case of the minesweepers, the Cabinet has already conducted a complete investigation,” said Lai. “As to the question of appropriations, we’re handing over all of our information to the Ministry of Justice to conduct a more in-depth investigation.”
The fraud allegedly occurred when Ching Fu Shipbuilding was trying to obtain a NT$20.5 billion syndicated loan from a group of nine domestic lenders led by First Commercial Bank. Kaohsiung District Prosecutors’ Office, which has been investigating the case since August, suspects the shipbuilder used bogus documents to pave the way for the loan. First Commercial Bank then filed a criminal lawsuit against Ching Fu Shipbuilding in October for breach of contract. [FULL STORY]