US goes after properties of disgraced ex-Taiwan president
Posted: 15 July 2010 0751 hrs
WASHINGTON: The US government on Wednesday went to court seeking to expropriate two properties owned by former Taiwan president Chen Shui-bian and his wife, allegedly bought with bribe money the couple received while in power.
According to the civil forfeiture complaint filed in New York and Virginia, former first lady Wu Shu-chen was paid six million dollars to prevent her husband's government from interfering with a company's takeover bid for a rival firm in Taiwan.
The complaint states Wu laundered the bribe money using shell companies and Swiss bank accounts controlled by her son and his wife. Some of the money was transferred to the United States to buy an apartment in Manhattan and a house in Keswick, Virginia.
Chen, who governed from 2004-2005, and his wife were convicted last year in Taiwan of embezzling state funds, laundering money, accepting bribes and committing forgery and were sentenced to life imprisonment.
Taiwan's High Court last month reduced the couple's sentences to 20 years in prison after concluding that less money was embezzled than previously assumed. Taiwan's prosecutors on July 1 appealed the ruling.
The couple's son, Chen Chih-Chung is currently sentenced to 14 months in prison and his wife, Huang Jui-Ching, to 12 months for their part in the corruption scheme. Both are still under indictment in Taiwan on additional money laundering charges.
John Morton, Homeland Security Director for the Immigration and Customs Enforcement department, said Wednesday's court filing "serves as a warning to those corrupt foreign officials who abuse their power for personal financial gain and then attempt to place those funds in the US financial system."
- AFP/de
http://www.channelnewsasia.com/stories/afp_asiapacific/view/1069459/1/.html
Posted: 15 July 2010 0751 hrs
WASHINGTON: The US government on Wednesday went to court seeking to expropriate two properties owned by former Taiwan president Chen Shui-bian and his wife, allegedly bought with bribe money the couple received while in power.
According to the civil forfeiture complaint filed in New York and Virginia, former first lady Wu Shu-chen was paid six million dollars to prevent her husband's government from interfering with a company's takeover bid for a rival firm in Taiwan.
The complaint states Wu laundered the bribe money using shell companies and Swiss bank accounts controlled by her son and his wife. Some of the money was transferred to the United States to buy an apartment in Manhattan and a house in Keswick, Virginia.
Chen, who governed from 2004-2005, and his wife were convicted last year in Taiwan of embezzling state funds, laundering money, accepting bribes and committing forgery and were sentenced to life imprisonment.
Taiwan's High Court last month reduced the couple's sentences to 20 years in prison after concluding that less money was embezzled than previously assumed. Taiwan's prosecutors on July 1 appealed the ruling.
The couple's son, Chen Chih-Chung is currently sentenced to 14 months in prison and his wife, Huang Jui-Ching, to 12 months for their part in the corruption scheme. Both are still under indictment in Taiwan on additional money laundering charges.
John Morton, Homeland Security Director for the Immigration and Customs Enforcement department, said Wednesday's court filing "serves as a warning to those corrupt foreign officials who abuse their power for personal financial gain and then attempt to place those funds in the US financial system."
- AFP/de
http://www.channelnewsasia.com/stories/afp_asiapacific/view/1069459/1/.html
