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Ex-Taipei 101 chairman free to move

Ex-Taipei 101 chairman free to move

TAIPEI (Taiwan News) – Despite being sentenced to prison for embezzlement, former Taipei 101 Chairman Harace Lin was free to travel after the Supreme Court rejected an appeal by prosecutors Friday.
The case was not directly linked to the iconic building but focused on the alleged embezzlement of NT$1.2 billion (US$36.7 million) from Jin Shang Chang Development Co., a separate company. Lin is a member of the family behind Hung Kuo, once one of Taiwan’s most prominent real estate developers.
Last October, the Taiwan High Court sentenced the businessman to 20 months in prison for violating Securities and Exchange Act stipulations on hiding financial reports and to three months for forgery.
Because it judged Lin’s crimes were not serious, the court also ended a ban on him traveling overseas or out to sea. He could also move freely and did no longer have to report to a local police station according to the High Court decision.
Prosecutors said the end of the travel ban clashed with a request from the court to prevent him from escaping, and therefore filed an appeal with the Supreme Court, which was rejected.
Lin is also still being investigated in a separate case involving breach of trust, which could lead to a new separate ban on his movements, reports said.
Lin and a number of associates were accused of incurring bad debt and of never reporting the related transactions in the financial statements of Jin Shang Chang as required by law.


Updated : 2021-09-26 00:48 GMT+08:00