CTW accepts Jacky Wu's plan to file lawsuit

The magazine stated that it had used due diligence in researching and double-checking the facts in its report about local entertainer Jacky Wu borrowing NT$500 million from loan sharks to keep his investment ventures in the technology sectors afloat and has retained legal representation for future proceedings.

In its Nov. 13 issue, CTW reported that the “local king” of entertainment borrowed money from illicit money lenders to solve financial problems at H&T Electronics Co., Ltd., where he chairs the board. Wu said yesterday that the report is inaccurate and gave the magazine three days to issue a correction before suing.

He added that he has many good friends to borrow from if he needed money, and that no one would be stupid enough to borrow under the terms of NT$45 million interest per

month.

The high profile entertainer has been known to make many diverse investments, including real estate properties and record labels. However, he stunned the entertainment industry when he took over as the chairman of the over-the-counter traded H&T Electronics Co. last year.

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