Court sentences Sunny Bank ex-chair
By Enru Lin, The China PostThe Taiwan High Court (台灣高等法院) reversed the acquittal of former Sunny Bank (陽信銀行) Chairman Chen Sheng-hong (陳勝宏), sentencing him to three years and two months behind bars for authorizing an irregular bank loan.
November 1, 2012, 1:09 am TWN
Chen and wife Hsueh Ling (薛凌), who are both active members of the Democratic Progressive Party (DPP), were prosecuted but exonerated in 2007 for facilitating a loan based on a doctored contract.
Yesterday the High Court ruled Hsueh not guilty of violating the Banking Act (銀行法), but determined that Chen had knowingly accepted a doctored contract from brother-in-law Hsueh Tsung-hsien (薛宗賢).
The contract was for a piece of real estate — the China Daily News (中華日報) Building — sold at approximately NT$400 million at the end of 2002.
Hsueh Tsung-hsien had forged the document, raising the sale price to NT$500 million, in order to apply for a NT$410 million loan. His brother-in-law Chen conspired with other bank officials to facilitate the illegal loan's approval, in what is a breach of trust, according to the High Court.
Chen received a reduced term of three years and two months behind bars, plus a NT$3.5 million fine. The case is eligible for appeal.
The High Court ruled that Hsueh Ling had lent NT$300 million to her brother for his real-estate purchase, but that there is no evidence that implicates her in his illicit dealings. Hsueh Ling currently serves as a DPP legislator-at-large.