Taiwan tycoon denies bribery chargesA Taiwanese tycoon Wednesday rejected bribery bribery
Crime of giving a benefit (e.g., money) in order to influence the judgment or conduct of a person in a position of trust (e.g., an official or witness). Accepting a bribe also constitutes a crime. allegations over the acquisition of a department store in the latest chapter of a money-laundering scandal implicating im·pli·cate
tr.v. im·pli·cat·ed, im·pli·cat·ing, im·pli·cates
1. To involve or connect intimately or incriminatingly: evidence that implicates others in the plot.
2. the family of the former president.
The Apple Daily newspaper reported earlier Wednesday that prosecutors had received a tip-off that Far Eastern Group chairman Douglas Hsu allegedly gave 11.5 million US dollars to then president Chen Shui-bian Chen Shui-bian, 1951–, Taiwanese political leader, president of Taiwan (2000–). Born into poverty, he obtained his law degree from National Taiwan Univ. in 1975 and practiced as a maritime lawyer. .
The money was said to have been transferred while Hsu bid and acquired the department store chain Pacific Sogo between 2002 and 2003.
"The allegations are totally false," Hsu told reporters. "Far Eastern does not give bribes. I fully support the investigation to clarify these things.
"We have been smeared smear
v. smeared, smear·ing, smears
a. To spread or daub with a sticky, greasy, or dirty substance.
b. and we hope the government will speed up its probe to nail those who take and give money... We have nothing to hide."
Far Eastern Group is a conglomerate of hotel, construction, textiles and retailing businesses.
The Apple Daily said prosecutors were investigating whether the money wound up in Chen's overseas bank accounts.
A Taipei court is set to rule on separate breach of trust charges against Hsu and three others for allegedly forging the records of board and investor meetings to facilitate the acquisition.
Local media have alleged Hsu had the backing of Chen's wife Wu Shu-chen Wu Shu-chen or Wu Shu-jen (Traditional Chinese: 吳淑珍) (born July 11, 1953) is the wife of Chen Shui-bian, the President of the Republic of China. in the acquisition of Sogo in return for money vouchers, but prosecutors dropped charges due to lack of evidence.
"We are reviewing relevant information," prosecutor Chu Chao-liang said when asked to comment on the allegation against Far Eastern.
Chen, his wife, son, daughter-in-law and brother-in-law have all been named as defendants over money-laundering claims which surfaced this month.
The ex-president has admitted his wife wired 20 million US dollars abroad from his past campaign funds, but said she did so without his knowledge.
He has denied money-laundering.
Chen, who left office in May, is already being investigated for allegedly embezzling 14.8 million Taiwan dollars Noun 1. Taiwan dollar - the basic unit of money in Taiwan
dollar - the basic monetary unit in many countries; equal to 100 cents (480,500 US) in special expenses while president, while his wife is on trial for corruption and document forgery forgery, in art
forgery, in art, the false claim to authenticity for a work of art. The Nature of Forgery
Because the provenance of works of art is seldom clear and because their origin is often judged by means of subtle factors, art in the same case.