High Court extends Tatung chairman’s sentence to 8 years

[WildestDreams]

High Court extends Tatung chairman’s sentence to 8 years

Taiwan News
2014-08-13 06:08 PM

Taiwan’s High Court issued a ruling Wednesday to extend Tatung’s chairman Lin Wei-shan’s 4.5-year sentence to 8 years in a case involving the alleged embezzlement of more than NT$1 billion.

Tatung is one of Taiwan’s leading home appliance makers, whose chairman Lin was sentenced to 4.5 years in the previous ruling of the Banciao District Court in 2011 for embezzling more than NT$1 billion from Tatung in order to pay for a loan owed by another company he founded that was in debt.

Tatung issued a statement on the same day saying that the company believes Lin is innocent and will support appealing to a higher court. The company indicated that under Lin and the general manager’s leadership, Tatung started to turn profit in the first quarter of this year and accumulated profit in the first half of the year has reached NT$1.12 billion. The company also stressed that the ruling will leave no impact to its operation, finance, or business.