CENTRAL FIGURE:Chao Teng-hsiung was released on a record NT$550 million bail, but is restricted to his home and has been ordered not to leave the country
Taipei Times
Date: Nov 01, 2017
By: Jason Pan / Staff reporter
The Taipei District Prosecutors’ Office yesterday sought a jail sentence of 24 years for
Farglory Group chairman Chao Teng-hsiung arrives in handcuffs at the Taipei District Court yesterday for a hearing on charges of corruption. Photo: Wang Yi-sung, Taipei Times
Farglory Group (遠雄集團) founder Chao Teng-hsiung (趙藤雄) on charges that include bribery and breach of trust in cases involving several public construction projects.
After a four-month investigation, prosecutors yesterday indicted 31 people, including Chao, New Taipei City Councilor Chou Sheng-kao (周勝考) of the Chinese Nationalist Party (KMT) and former Taipei Department of Finance commissioner Lee Sush-der (李述德).
At 8pm, Chao, considered the central figure in the four cases relating to Farglory Group, was released on a record bail of NT$550 million (US$18.23 million).
The judge imposed restrictions on Chao’s movement, ordering him to remain within his home, prohibiting him from leaving the country and requiring him to report to his local police station every day. [FULL STORY]