Legislator’s home, office searched in fraud investigationBy Jason Pan / Staff reporterAuthorities yesterday searched the office and residence of Chinese Nationalist Party (KMT) Legislator Wu I-ding (吳怡玎) in Kaohsiung, along with those of her family, as part of an investigation into alleged securities fraud, with investors in Pharmally International Holding Co losing an estimated NT$1.5 billion (US$52.05 million) after its stock price collapsed. Phamally chairman Tony Huang (黃文烈), 59, has fled Taiwan and is reportedly hiding in Singapore, investigators said. Chinese Nationalist Party (KMT) Legislator Wu I-ding said yesterday at the Legislative Yuan in Taipei that Ministry of Justice Investigation Bureau agents had searched her office and residence in Kaohsiung. The investigation was launched in August, with 14 people summoned for questioning at the time, while an international warrant has been issued for Huang’s arrest. Prosecutors alleged that Huang illegally transfered NT$700 million into his personal bank accounts, which have affected four of his lenders — Entie Commercial Bank, Far Eastern International Bank, Hua Nan Bank and Bank SinoPac.

Source: Taipei Times November 25, 2020 15:56 UTC