TRANSPARENCY:The Ill-gotten Party Assets Settlement Committee is to relaunch a Web site with the results of a Chen administration investigation into illegal assets
Taipei Times
Date: Sep 22, 2016
By: Chen Wei-han / Staff reporter
The Ill-gotten Party Assets Settlement Committee yesterday said it froze a bank account of the
Ill-gotten Party Assets Settlement Committee Chairman Wellington Koo, right, speaks at a news conference in Taipei yesterday. Photo: Chien Jung-fong, Taipei Times
Chinese Nationalist Party (KMT) over the issuance of 10 checks worth a collective NT$520 million (US$16.54 million) immediately after a law was promulgated prohibiting political parties from disposing of assets presumed to have been obtained illegally.
Following the implementation on Aug. 10 of the Act Governing the Handling of Ill-gotten Properties by Political Parties and Their Affiliate Organizations (政黨及其附隨組織不當取得財產處理條例), the KMT on Aug. 11 withdrew NT$520 million from Bank SinoPac (永豐銀行) and asked Bank of Taiwan (臺灣銀行) to issue 10 checks worth NT$52 million each, reportedly to pay for party expenses and employees’ salaries, committee spokeswoman Shih Chin-fang (施錦芳) said.
One check was cashed on Aug. 30, and funds were transferred to about 200 accounts, which might constitute a violation of the act, because the money is presumed to have been gained through illegal means and cannot be disposed of, Shih said. [FULL STORY]
