Cheng Hsin Group Suspected of Misappropriating Green Energy Company Funds; 6 Detained, 1 Released on Bail

(CNA, reporter Chang Jung-hsiang, Tainan, July 3) The Tainan District Prosecutors Office is investigating the Cheng Hsin Group and its affiliated companies' de facto responsible persons and key executives for allegedly misappropriating funds from a green energy company within the group. Starting June 29, two waves of searches were conducted, leading to the summons of 24 individuals. Following interrogation, 7 were detained, with 6 ordered to be detained without bail and 1 released on bail by the Tainan District Court.

The Tainan District Prosecutors Office stated today that on June 29, the office directed the Tainan Police and Investigation Bureau to conduct searches and seize evidence at 14 locations, including Taipei City, and summoned a total of 15 defendants and witnesses. After interrogation, it was determined that five defendants surnamed Chen, Liu, Cheng, and two surnamed Li, allegedly used their positions as de facto responsible persons and key executives of the Cheng Hsin Group or its affiliated companies to misappropriate funds from a green energy company within the group.

The Tainan District Prosecutors Office, citing the grave suspicion of defendants Chen and others for crimes including breach of trust, fraud, money laundering, embezzlement, the Commercial Accounting Act, and the Banking Act, as well as the risk of collusion with co-defendants, witnesses, and destruction of evidence, arrested them in court in the early morning of June 30. A request for detention without bail was filed with the Tainan District Court and approved.

On July 1, the Tainan District Prosecutors Office executed a second wave of searches at 11 locations and summoned the remaining personnel from affiliated companies and business partners, totaling 9 individuals. In the early morning of yesterday, defendants surnamed Chiu and Kang were arrested in court. The Tainan District Court ordered the defendant surnamed Chiu to be detained without bail, and the defendant surnamed Kang to be released on bail of NT$100,000 with restrictions on residence. (Editor: Chen Jen-hua) 1150703

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