Chen Shui-bian's son-in-law indicted for insider trading

Prosecutors in Taipei indicted Chao Chien-ming on charges of insider trading on Monday, proposing an eight-year imprisonment for the son-in-law of Chen Shui-bian.

Chao and other six people were accused of involvement in insider trading of shares of a local property company.

The prosecutors also demand for 10-year jail term for Chao Yu-chu, father of Chao Chien-ming, and eight-year in prison for Su Te-chien, chairman of Taiwan Development and Trust Corp, according to local media reports in Taipei.

Chen's son-in-law has refused to confess ever since he was detained on May 25, though he is believed to have pocketed tens of millions of New Taiwan Dollars from the criminal activities.

Chao, an orthopedist, is the husband of Chen's daughter Chen Hsing-yu. The couple has three children.

The insider trading scandal has caused a big bang in Taiwan's political arena. Kuomintang Party and People First Party have tabled a bill demanding Chen Shui-bian to step down.

Local people's support for Chen has dropped drastically, which has brought the image of Chen's family, Democratic Progressive Party, and the Taiwan Authorities to bankruptcy.

Source: Xinhua