Friday, July 01, 2011

Ex-Taiwan leader accused for misuse of public funds

Taiwan's former president Lee Teng-hui
A surprised Taiwan former president Lee Teng-Hui was accused on Thursday for misappropriation of public funds during his 12-year term.
The healthy 88-year-old was said to be shocked over the decision of local prosecutors of him pilfering US$7.79 million from national security funds during his presidency between 1988 and 2000, Focus Taiwan News Channel reported.
Taiwan Research Institute founder Liu Tai-ying was also charged of corruption.
Lee's aide said the former president will defend his innocence, in another report by Focus Taiwan.
Prosecutors said Lee stole the money to create a think tank that will serve his private office after his term, AP said.
In a statement, "Lee Teng-hui pocketed $7.79 million for his own personal use through money-laundering.
"In order to set up the Taiwan Research Institute, he consulted with his advisers and decided to get the money from a National Security Bureau project fund."
Details of this report here.

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