NEW BAIL RECORD:Prosecutors have alleged that the company’s president might have made illegal profits of about NT$358m and requested an overriding bail figure
Date: Oct 07, 2016
By: Jason Pan / Staff reporter
Gobo Group (國寶集團) president Chu Guo-rong (朱國榮), detained in relation to allegations of
embezzlement in the CTBC Financial Holding Co (中信金) case, was yesterday released on a record-setting NT$400 million (US$12.74 million) bail.
Former CTBC executives Wu Feng-fu (吳豐富) and Chang Yu-chen (張友琛) were also released after a bail hearing at the Taipei District Court. Wu’s bail was set at NT$35 million, while Chang’s was NT$1.5 million.
The court set conditions on Chu and Wu’s release, with restrictions on their movement, including staying in their own residences, not leaving the nation and reporting to their local police station every day.
The Supreme Prosecutors’ Office Special Investigation Division on Wednesday indicted Jeffrey Koo Jr (辜仲諒) and seven others, including CTBC and Gobo Group executives, for allegedly embezzling company funds and other illegal financial dealings, and contravening the Securities and Exchange Act (證券交易法), the Money Laundering Control Act (洗錢防制法) and the Insurance Act (保險法). [FULL STORY]