Former minister ordered to compensate Tsai over TaiMed case

Want China Times
Date: 2015-10-27

A former Cabinet member was ordered Tuesday to compensate Tsai Ing-wen, chair and

Christina Liu, Dec. 29. (Photo/Yen Chien-lung)

Christina Liu, Dec. 29. (Photo/Yen Chien-lung)

presidential candidate of Taiwan’s opposition Democratic Progressive Party, for making a controversial allegation against her during her 2012 presidential campaign.

Christina Liu, former head of the Council for Economic Planning and Development (CEPD), was ordered to pay Tsai NT$2 million (US$61,700) in compensation in a ruling issued by the Taipei District Court. The case can be appealed.

Liu and other ruling Kuomintang politicians attacked Tsai for her role in the government’s investment in biotechnology company TaiMed Biologics in 2007, when Tsai served as the company’s chair. The project was approved by the then DPP administration while Tsai was vice premier in the first half of 2007. Tsai then stepped down from her post and became the company’s chair four months later, which the Kuomintang said violated revolving-door laws.

As the company’s chair, Tsai had her family invest in TaiMed to bridge a cash shortfall and the KMT charged that Tsai and her family made an illicit gain of at least NT$10 million (US$308,000) when it sold the stake not long afterward.     [FULL  STORY]

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