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Thursday, 16 September 2010 09:27

UMC bosses not guilt of illegal investment

Written by Nick Farell
umc_logo

Walk free after retrial
The former chairman and vice-chairman of UMC have walked free from court after being accuited of  illegal investment in China-based Hejian Technology. Robert Tsao and John Hsuan, were both been found not guilty of the charges.

The high court previously found the pair not guilty of the charges, but was ordered by the Supreme Court to reopen the case and ordered a retrail. It is not clear if the prosecutors will try to appeal that verdict.

Tsao claimed that there was an unlawful campaign against him, through TV talk shows and an open letter. He also refused to appear at the High Court in protest of what he called the prosecutors' abuse of rights in their continuous appeals.

In 2001, when the Hsinchu Prosecutors Office charged Tsao and Hsuan for violating the Commercial Accounting Act and with breach of trust for investing in China's He Jian Technology.

At the time the Taiwanese government forbid local firms from interacting with China. This time the court felt that the prosecutors could not provide evidence of UMC's financial loses due to the He Jian deal, the two cannot be guilty of breach of trust.

Nick Farell

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