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September 23, 2017

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Terry Gou denies tax evasion accusations

TAIPEI, Taiwan -- Hon Hai Precision issued an statement yesterday denying a renewed accusation against its owner Terry Gou's tax evasion in the U.S. that involved as much as NT$49.9 billion, a TV news channel reported.

In the statement, the electronic giant stressed that the accusation is "a bunch of nonsense" and is self-produced by a "specific person."

The statement referred to an article posted by Tsang Ching-yi, former reporter for a Chinese-language magazine, in her personal blog. In the article, she stated that Gou is being investigated by The Internal Revenue Services (IRS) of the U.S. for evading a total of NT$49.9 billion of tax.

The article claims that the IRS is requiring Gou to repay that money and a possible fine of 3 times the evaded tax amount. If proved true, it could lead to the bankruptcy of the Taiwan tycoon, she said in the article.

In a press conference yesterday, Tsang stressed that her accusation is based on facts. She also requested Hon Hai to provide an explanation and to apologize to her within 3 days.

This is not the first time Tsang confronted Gou, ranked third richest in Taiwan in 2008 by Forbes, in a David versus Goliath match. This is actually the second Tsang vs Gou trial. The first trial in 2007 found her guilty of blackmailing Gou, by threatening to expose information concerning tax evasion and asking him for US$1 million. She was sentenced to 1 year and 10 months in the first trial.

The second trial was due to open July 16 but was postponed because Tsang asked for a leave of absence.

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