High Court reduces sentence for Chen Shui-bian's son-in-law
May 17, 2014, 12:09 am TWN
TAIPEI--Chao Chien-ming (趙建銘), son-in-law of former President Chen Shui-bian (陳水扁), received a reduced sentence Friday of four years in prison and a fine of NT$25 million (US$828,830) for insider trading in the third retrial of his case at the Taiwan High Court.
His previous sentence was for seven years of jail time and a fine of NT$30 million for his part in buying stock in Taiwan Trust and Development Corp. (TDC, 台開公司) based on insider information.
Friday's ruling also handed down a sentence of four years and eight months and a NT$25 million fine to Chao's father, Chao Yu-chu (趙玉柱), who was charged in the same case. Chao Chien-ming and his father were further ordered to turn over NT$4.17 million in illegal gains.
The court also reduced the sentence for former TDC Chairman Su Teh-chien (蘇德建) to three years and four months, while businessman Yu Shih-yi (游世一) was handed a sentence of four years and a fine of NT$60 million.
All four can appeal their sentences to the Supreme Court.
The High Court said it handed down lighter sentences because the illicit gains in the case amounted to just over NT$4 million, which the defendants will hand over, rather than the NT$100 million cited in its previous rulings.
Prosecutors alleged that Chao Chien-ming and his father earned more than NT$100 million by manipulating TDC' stock prices, a figure the younger Chao's lawyers have disputed as inaccurate.