Jeffrey Koo, Jr. released on a NT$100 million bail

Taiwan News
Date: 2016-06-09
By: Central News Agency

Jeffrey Koo, Jr., a major shareholder of CTBC Financial Holding, was released early Thursday on a 6760423NT$100 million (US$3.11 million) bail after being questioned overnight by prosecutors over allegedly illegal transactions.

He faces charges of violation against the Banking Act and the Securities and Exchange Act and is banned from traveling out of Taiwan pending further investigations.

Talking briefly to waiting reporters, Koo said there was a “misunderstanding” and he did not know why he was questioned for so long.

Gobo Group Chairman Chu Kuo-rung, another key figure in the case, was still being questioned by prosecutors working for the the Special Investigation Division (SID), a unit of the Supreme Prosecutor Office that handles cases of major corruption and economic crimes.     [FULL  STORY]

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