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Taiwan shipbuilder sentenced to 25 years in Navy minesweeper scandal

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Appeals are still possible

Taiwan News
Date: 2019/09/27
By: Matthew Strong, Taiwan News, Staff Writer

Ching Fu Shipbuilding owner Chen Ching-nan (front, second from right) at an earlier court appearance. (By Central News Agency)

TAIPEI (Taiwan News) – The owner of one of Taiwan’s main shipbuilding companies was sentenced to 25 years in prison Friday (September 27) for fraudulently obtaining loans from banks to invest in China instead of building minesweepers for the Navy.

Appeals were still possible against the verdict, which also included a fine of NT$105 million (US$3.38 million) for Ching Fu Shipbuilding Co. (慶富造船) Chairman Chen Ching-nan (陳慶男), a fine of NT$280 million for the company, and an 18-month jail sentence for Chen’s wife and six months for a former executive director. One company adviser was found not guilty.    [FULL  STORY]

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