Taiwan president's son-in-law sentenced to prison for insider trading

[JURIST] In the latest corruption scandal involving Taiwanese President Chen Shui-bian [official website, English version; BBC profile] and his family, a Taiwanese court on Wednesday sentenced Chen son-in-law Chao Chien-min to six years in prison for insider trading. Chao Chien-min, who is married to Chen's daughter, was convicted of using insider information to earn $922,000 by purchasing shares of the company Taiwan Development Corp. Chao's father, Chao Yu-chu, was also convicted of insider trading and embezzlement in connection with the case. AP has more. Taiwan News Online has additional coverage.

Chen's wife, Wu Shu-chen, was indicted last month [JURIST report] on charges of embezzlement and falsifying documents. State prosecutors say they have enough evidence to bring charges against Chen himself, claiming that he and his wife embezzled $450,000 from the state affairs budget between 2002 and 2006 by using receipts obtained by the first lady through personal acquaintances. Chen has denied embezzlement charges and has said he would resign [JURIST report] if his wife is convicted. The Taiwanese constitution grants him immunity from criminal prosecution except for acts of treason or rebellion while he holds office. In October, a second attempt at a referendum [JURIST report] to oust President Chen for corruption charges was defeated in the Taiwanese legislature. The series of corruption charges against the Presidential family has fueled ongoing protests [BBC report] in Taiwan involving tens of thousands of people calling for Chen's resignation.

 

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