Jun 04, 2018 Politics Comments Off on Kaohsiung court orders detention of Ching Fu chair
Taipei, The Kaohsiung District Court ruled Monday that Ching Fu Shipbuilding Co. (CFS) Chairman Chen Ching-nan (???) who had been released on bail in a loan fraud case involving his company, should be detained until he pays an additional NT$100 million (US$3.36 million) in bail, deeming him a flight risk.
The move was a response to the company's vice chairman, Chen Wei-chih (???), another defendant in the case, who failed to appear in court that day.
The Kaohsiung District Prosecutors' Office in February indicted Chen and his vice chairman son on charges of fraud, breach of trust and violating the Banking Act for allegedly using fake documents to obtain a NT$20.5 billion syndicated loan from nine domestic lenders in 2016.
Prosecutors are recommending a 30-year sentence and NT$1 billion fine for Chen Ching-nan and a 25-year sentence and NT$600 million fine for Chen Wei-chih.
Others indicted on similar charges are former CFS CEO Chien Liang-chien (???), the chairman's wife Chen Lu Chao-hsia (????) and former CFS project manager Lee Wei-feng (???).
Chen Ching-nan and Chen Wei-chih were originally released on bail of NT$8 million and NT$5 million, respectively, banned from leaving the country and put under house arrest.
The chairman, his wife and Chien appeared at a court hearing Monday but their son did not show up.
Judges decided at that time to hold a detention hearing for Chen Ching-nan and his wife, as CFS has several subsidiaries in China and the chairman and vice chairman had frequently entered and exited Taiwan.
Meanwhile, Chen Lu's ban on leaving the country remained in place.
Chen Wei-chih may face additional charges for jumping bail.
In addition, the court has sent an official letter to the city's police department demanding an investigation into alleged police negligence after the company vice chairman was found to have jumped bail.
Chen Wei-chih reported to the district court March 26 that his residence had been moved to Zuoying District and reported to a police station in the district. However, he did not appear at the police station since May 6 and judges in charge of the case found on May 22 that he did not register his attendance for over two weeks and asked police to issue a warrant for his arrest.
Until May 25, when the warrant expired, Chen was still on the run.
The head of the police station in Zuoying, Huang Li-fan (???), was given two minor demerits, while the head of the Zuoying Police Precinct Tsai Wen-feng (???) and the head of the criminal investigation squad Tsai Hsin-chu (???) were each given a minor demerit.
Source: Focus Taiwan News Channel
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