Presently, Chao Chien-ming is being held in incommunicado detention for insider trading on Taiwan Development Corporation stocks. Presently, Chao seems to be maintaining the position that he knew nothing about the trading made through the account of his mother. This was the first stock trade ever made by his mother and it was for a significant amount of money raised at short notice. Chao acknowledges that he was present at two meals with the buyers and sellers of the stocks, and he insists that nothing about the stock trade was mentioned in his presence. The two other principals at the meeting are now cooperating witnesses with the prosecutor's office, and so this will become a he-said-they-said case. If Chao loses the case, it is 3+ years of prison time, for himself and possibly for other members of his family.
What will be the political repercussions if the government prosecutors can't make their case...........if they have no paper trail, then they don't have much of a case.
[Taiwan] [Chen Shui-bian] [DPP]
I had thought Chao had reportedly admitted to prosecutors that he was cognizant of the plans to sell Taiwan Development stocks, but maybe I was misinformed.
ReplyDeleteThere's no telling what Chao could do--maybe he will strike a deal with prosecutors and get off with easily in return for full cooperation. Hard to say at the moment.
"What will be the political repercussions if the government prosecutors can't make their case...........if they have no paper trail, then they don't have much of a case."
ReplyDeleteOnly one thing would be left to do... can anyone say "Truth Commission?" YEAH, BABY!