Monday, September 14, 2009

Taipei seeks return of Chen's millions

       Taiwan officials are seeking Switzerland's consent to return $21 million frozen in two bank accounts that a court said the island's ex-president illegally obtained and laundered.
       The Taipei District Court last week sentenced former president Chen Shuibian to life in prison for corruption. He was found guilty of embezzling $3.15 million (107 million baht) during his 2000-2008 presidency and receiving bribes worth at least $9 million, as well as money laundering and document forgery. Chen rode to power in 2000 on a promise to clean up corruption.
       The China Times quoted prosecutors yesterday who said they will send the court's verdict to Swiss judicial authorities with a request the money be returned to Taiwan's government.
       In 2008, Swiss authorities ordered the bank accounts of Chen's son and daughter-in-law, Chen Chih-chung and Huang Zui-jing, frozen on suspicion of money laundering.
       The court's verdict said the $21 million laundered abroad included money Chen and his wife had embezzled from a special presidential fund and bribes a Taiwanese businessman paid them in connection with a government land deal.
       The verdict said the couple instructed their son and daughter-in-law to deposit the money in accounts in Zurich-based RBS Coutts Bank AG and Merrill Lynch Bank (Suisse) SA.
       Chen and his wife have denied the charges, saying the money was left over from political donations.
       For the past year, the legal saga has riveted the island of 23 million people.
       Dozens of Chen supporters protested yesterday outside the residence of Tsai Shou-hsiun, the presiding judge in the graft case, saying the verdict was politically motivated. Some held signs bearing the Chinese character for "Shame".
       The protesters also said Chen was unfairly confined to jail during his trial.They pointed to a decision to change the three-judge Taipei District Court panel after it originally freed him on his own recognizance following his indictment last December. The new judges,led by Mr Tsai, accepted the prosecutors'argument that Chen was a flight risk.
       Taiwanese prosecutors are mulling more legal action against the island's former president and his wife.
       Investigators are examining Chen's alleged role in six more corruption cases,ranging from the embezzlement of secret diplomatic funds to taking bribes and money laundering, the China Times said.Chen insists the corruption charges are a political vendetta by the Chinafriendly Kuomintang government for his lifelong push to declare formal independence from China.
       Chen and his wife were ordered to pay a combined fine of T$500 million (518 million baht).

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