Appeal begins on insider trading conviction of Taiwan leader's son-in-law

Taiwan's Supreme Court began hearing the appeal of Taiwan leader Chen Shui-bian's son-in-law Chao Chien-ming against his conviction and sentence for insider trading.

Both Chao Chien-ming and his father Chao Yu-chu appeared in court, local media reported, without giving further information.

Chao Chien-ming was convicted of using inside information to purchase stock in the Taiwan Trust and Development Corp., profiting more than 74 million Taiwan dollars (2.3 million U.S. dollars) in July last year.

On Dec. 27, 2006, Chao was sentenced to six years in jail and fined 30 million Taiwan dollars (920,000 U.S. dollars).

Chao Yu-chu was jailed for eight years and four months for charges relating to the same case and for embezzlement.

Chao Chien-ming, an orthopedist, is married to Chen Shui-bian's daughter Chen Hsing-yu. The couple have three children.

The insider trading scandal has been among the issues that prompted the Kuomintang Party and People First Party to table a bill demanding that Chen Shui-bian step down.

Source: Xinhua