Core Pacific City Land Sale Allegedly Violates Securities Exchange Act, Shen Ching-ching Faces 26-Year Sentence
The Taipei District Prosecutors Office has indicted 13 individuals, including Wei-Ching Group Chairman Shen Ching-ching, for alleged violations of the Securities Exchange Act in the sale of Core Pacific City land. Shen Ching-ching faces a total of 26 years in prison. The land was acquired by Dingyue Development, a subsidiary of China Petrochemical Development Corporation, for NT$37.2 billion.
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- 📰 Published: May 8, 2026 at 10:24
- 🔍 Collected: May 8, 2026 at 10:31 (7 min after Published)
- 🤖 AI Analyzed: May 9, 2026 at 08:27 (21h 55m after Collected)
Central News Agency
(Central News Agency reporter Lin Chang-shun, Taipei, 8th) The Taiwan Taipei District Prosecutors Office, investigating the case of Dingyue Development, a subsidiary of China Petrochemical Development Corporation (CPDC), acquiring Core Pacific City land suspected of violating the Securities Exchange Act, today concluded its investigation. It indicted 13 individuals, including Wei-Ching Group Chairman Shen Ching-ching, for offenses including violations of the Securities Exchange Act, and sought a total sentence of 26 years for Shen Ching-ching.
In addition to Shen Ching-ching, CPDC Chairman Chen Rui-long, General Manager Chen Ying-chun, former Chairman Lin Ke-ming, then-CPDC Independent Director Zhu Yun-peng, and former Dingyue Development Co., Ltd. Chairman Zhu Ya-hu were all indicted.
According to investigations by prosecutors and investigators, when the Core Pacific City land was put up for its fourth auction in September 2019, the reserve price was NT$34.2 billion. Dingyue Development, a related enterprise of the Wei-Ching Group under CPDC, successfully bid for it at NT$37.2 billion, setting a record for the highest commercial real estate auction amount in Taiwan.
Prosecutors and investigators suspect that during the land transaction process, relevant individuals were involved in violations of the Securities Exchange Act, including irregular transactions and special breach of trust. In May last year, the Taipei District Prosecutors Office directed the Northern Region Investigation Office of the Ministry of Justice Investigation Bureau to search the headquarters of the Wei-Ching Group, CPDC, Dingyue Development, Core Pacific City, and the residences of relevant defendants.
In May and November last year, Shen Ching-ching, Chen Rui-long, Lin Ke-ming, Zhu Yun-peng, Chen Ying-chun, and Zhu Ya-hu, among other defendants, were summoned for questioning. After questioning, relevant defendants were released on bail or dismissed. (Editor: Li Ming-tsung) 1150508
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(Central News Agency reporter Lin Chang-shun, Taipei, 8th) The Taiwan Taipei District Prosecutors Office, investigating the case of Dingyue Development, a subsidiary of China Petrochemical Development Corporation (CPDC), acquiring Core Pacific City land suspected of violating the Securities Exchange Act, today concluded its investigation. It indicted 13 individuals, including Wei-Ching Group Chairman Shen Ching-ching, for offenses including violations of the Securities Exchange Act, and sought a total sentence of 26 years for Shen Ching-ching.
In addition to Shen Ching-ching, CPDC Chairman Chen Rui-long, General Manager Chen Ying-chun, former Chairman Lin Ke-ming, then-CPDC Independent Director Zhu Yun-peng, and former Dingyue Development Co., Ltd. Chairman Zhu Ya-hu were all indicted.
According to investigations by prosecutors and investigators, when the Core Pacific City land was put up for its fourth auction in September 2019, the reserve price was NT$34.2 billion. Dingyue Development, a related enterprise of the Wei-Ching Group under CPDC, successfully bid for it at NT$37.2 billion, setting a record for the highest commercial real estate auction amount in Taiwan.
Prosecutors and investigators suspect that during the land transaction process, relevant individuals were involved in violations of the Securities Exchange Act, including irregular transactions and special breach of trust. In May last year, the Taipei District Prosecutors Office directed the Northern Region Investigation Office of the Ministry of Justice Investigation Bureau to search the headquarters of the Wei-Ching Group, CPDC, Dingyue Development, Core Pacific City, and the residences of relevant defendants.
In May and November last year, Shen Ching-ching, Chen Rui-long, Lin Ke-ming, Zhu Yun-peng, Chen Ying-chun, and Zhu Ya-hu, among other defendants, were summoned for questioning. After questioning, relevant defendants were released on bail or dismissed. (Editor: Li Ming-tsung) 1150508
Choose to stand with facts, every sponsorship you make is a force to protect press freedom.
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The text, images, and videos on this website may not be reproduced, publicly broadcast, publicly transmitted, or utilized without authorization.