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US returns $1.5M to Taiwan from forfeited properties
WASHINGTON – The United States is returning $1.5 million to Taiwan from the sale of forfeited properties purchased with alleged bribes paid to the family of former President Chen Shui-bian (chuhn shway bee-EHN).
The Justice Department said Thursday the funds are being returned to the self-governing island under a program that aims to prevent corrupt leaders from using the U.S. as a safe haven for ill-gotten gains.
The department said a $6 million bribe was allegedly paid by Yuanta Securities Co. Ltd. to former first lady Wu Shu-jen (woo shoo jehn) in 2004 so that the then-president would not oppose Yuanta’s bid to acquire a financial holding company.
It said the former president’s family used proceeds to purchase properties in Keswick, Virginia, and New York which were forfeited in 2012 court judgments.
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