Taiwan News
Date: 2016-06-09
By: Matthew Strong, Taiwan News, Staff Writer

TAIPEI (Taiwan News) – The Taipei District Court on Thursday approved the detention of Gobo Group Chairman Chu Kuo-rung in the investigation into cases surrounding CTBC Charity Foundation Chairman Jeffrey Koo, Jr.

On Wednesday, agents working for the Supreme Prosecutors Office Special Investigation Division (SID) raided more than 50 locations and summoned more than 90 people for questioning in connection with several suspected financial scandals.

Koo, a member of one of Taiwan’s most prominent business dynasties, was released on bail of NT$100 million (US$3 million) in the early hours of Thursday morning, but prosecutors felt that Chu had violated the Securities and Exchange Act and might also try to destroy evidence or even escape.     [FULL  STORY]