Taipei court says no probe sought on FSC officials involved in Great Chinese |
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Published
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Tue, 17 Jul 2007 09:07
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TAIPEI (XFN-ASIA) - The Taipei District Court has not sought an investigation into three officials of Financial Supervisory Commission (FSC) regarding their supervision of Great Chinese Bills Finance Corp, a court spokesman said.'We have not heard anyone in the court indicating plans to probe those' FSC officials, court spokesman and chief judge SS Liu told XFN-Asia.'The three officials are now witnesses in the court's probe against Great Chinese Bills Finance,' he said, referring to FSC vice chairwoman Susan Chang, former Bureau of Monetary Affairs (BoMA) Director General Gary Tseng and a BoMA section chief KM Chang.Meanwhile, Susan Chang told a news conference that the FSC's directives regarding Great Chinese Bills Finance were in compliance with regulations.'In terms of (our earlier rules on) Great Chinese Bills Finance, we complied with regulations,' the FSC vice chairwoman said.'We made decisions... to reduce the operation risks of Great Chinese Bills Finance,' she said, noting that the FSC had imposed some restrictions on the bills finance firm's operations.The comments come in the wake of a report in the Economic Daily News which said the Taipei court has decided to demand a probe into the three officials to determine if there was any graft involved in their decisions regarding Great Chinese Bills Finance.Great Chinese Bills, which is a member of the Rebar group, is alleged to have engaged in illegal lending to some parties within the group.adela.lin@afxasia.com-xfnal/xfnrcCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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