Taipei Times
Date: Nov 18, 2017
By: Peng Wan-hsin and Jake Chung / Staff reporter, with staff writer
Democratic Progressive Party (DPP) Legislator Wang Ding-yu (王定宇) yesterday
Democratic Progressive Party legislators Tsai Yi-yu, left, and Wang Ding-yu hold a news conference at the Legislative Yuan yesterday. Photo: CNA
accused former Presidential Office deputy secretary-general Hsiung Kuang-hua (熊光華) and former Executive Yuan secretary-general Chien Tai-lang (簡太郎) of serving as intermediaries for financially troubled Ching Fu Shipbuilding Co.
The shipbuilder has been embroiled in a fraud scandal over a contract that it won from the Ministry of National Defense in October 2014 to build six minesweepers for the military at a cost of NT$34.9 billion (US$1.16 billion).
To finance the construction, Ching Fu obtained a syndicated loan of NT$20.5 billion from a group of nine domestic lenders led by First Commercial Bank.
However, an investigation initiated by prosecutors in August found that Ching Fu might have used bogus documents to falsify four capital increases that were required as part of the terms of the loan. [FULL STORY]
