BREACH OF TRUST: The former president directed and approved the sale of three media firms, resulting in massive losses for Central Investment Co, prosecutors said
Taipei Times
Date: Jul 11, 2018
By: Jason Pan / Staff reporter
Former president Ma Ying-jeou (馬英九) and five other people were
Broadcasting Corp of China (BCC) chairman Jaw Shaw-kong walks into the venue of a news conference in Taipei yesterday to explain his company’s part in an indictment concerning the Chinese Nationalist Party’s (KMT) sale of its shares in BCC and two other media companies. Photo: CNA
yesterday indicted on charges of breach of trust and contravening securities regulations in connection with the sale of three media companies owned by the Chinese Nationalist Party (KMT).
In announcing the indictment, the Taipei District Prosecutors’ Office detailed the results of its investigation and reasons for the charges against three principal figures — Ma; Wang Hai-ching (汪海清), former general manager of the KMT-controlled Central Investment Co (中央投資公司); and Chang Che-chen (張哲琛), the company’s former chairman.
Aside from contravening the Securities and Exchange Act (證券交易法), “the three defendants also displayed disdain for the law and did not cooperate with the investigation. Prosecutors will therefore ask the court to impose the maximum sentence,” Taipei Deputy Chief Prosecutor Chou Shih-yu (周士榆) said.
Former KMT legislator Alex Tsai (蔡正元), his wife, Queena Hung (洪菱霙), and her father, Hung Hsin-hsing (洪信行), were also charged with embezzlement, breach of trust, money laundering, contravening the Business Entity Accounting Act (商業會計法) and other offenses.
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