FINANCIAL SCANDAL:Koo and other executives are under investigation for insider trading, profiteering on real-estate transactions and illegal transfers of company funds
Date: Jun 10, 2016
By: Jason Pan / Staff reporter
Jeffrey Koo Jr (辜仲諒), a major shareholder of CTBC Financial Holding Co (中信金), was released
yesterday morning on bail of NT$100 million (US$3.10 million) after being questioned overnight by prosecutors.
A number of CTBC executives and other suspects were also released as a judicial probe into alleged illegal financial dealings involving several of the nation’s leading financial companies and executives continued.
Gobo Group (國寶集團) president Chu Guo-rong (朱國榮), reportedly a major financial backer of the Chinese-language weekly magazine The Journalist (新新聞), remained in custody at press time last night.
The Taipei District Court approved a request by prosecutors that Chu be held incommunicado. Prosecutors said Chu played a major role in the alleged financial irregularities and might tamper with evidence if he is released. [FULL STORY]