Surf Taiwan News, Browse the World »
Real estate tycoon to be detained for two months
Central News Agency
2014-06-03 08:27 AM
Taipei, June 3 (CNA) Chao Teng-hsiung, one of Taiwan's most successful real estate tycoons, will be detained for two months pending investigations and likely indictment over bribery allegations, the Taiwan High Court ruled early Tuesday. After hours of deliberations, the high court rejected an appeal by Chao, chairman of Farglory Group, to have a district court's decision overturned. A day earlier, the Taipei District Court granted the prosecution's request to have Chao and Wei Chun-hsiung, a senior Farglory executive, detained to prevent collusion among the accused. Yeh Shih-wen, deputy chief of the Taoyuan County government, and former college professor Tsai Jen-hui, who has been accused of acting as an intermediary, were taken into custody on Saturday. Chao and Wei face charges of giving a NT$16 million (US$533,000) bribe to Yeh through the former college professor before bidding for a public building contract, which Farglory won in April with a NT$1.3 billion tender. The high court's ruling on the matter is final. Chao and Wei are to spend two months in detention beginning June 2. (By Liu Shi-yi and Jay Chen)
Advertisement »
HOME |  WORLD |  Politics |  Business |  Sports |  Lifestyle |  TAIWAN |  Technology |  Health |  SUPPLEMENT |  Society |  OPINION
  • Taiwan News  ©  2014 All Rights Reserved.