Global Funeral Service Corp president Chu Guo-rong (朱國榮) has been listed as a wanted fugitive following a warrant for his arrest issued on Sept. 21, the High Court said yesterday.
Chu, who was charged with stock manipulation, insider trading and embezzlement, was added to the wanted list on Thursday after careful consideration of documents in the case, the court said.
The tycoon, who is accused of manipulating the stock value of construction company Long Bon International Co, allegedly skipped bail and had his NT$400 million (US$12.4 million) bond canceled by the court last week.
Photo: Taipei Times
Chu was also accused of insider trading when CTBC Financial Holdings acquired Taiwan Life Insurance in 2015.
The High Court found Chu guilty on both charges and sentenced the tycoon to eight and 16 years in prison respectively.
However, after he appealed, the cases were referred to the Supreme Court.
As part of his bail conditions, the businessman spent the majority of the time under restricted residential release as the High Court was investigating the cases
As part of his restricted residence release, he was required to report in person to Sanzhangli Police Station in Taipei’s Xinyi District (信義) every day before 7pm, according to the station’s managing Xinyi Precinct.
However, he never showed up after his last visit to the police station on Sept. 7, which led the Supreme Court to issue a warrant for his arrest.
His current whereabouts are unknown, but it has been reported by local media that he fled the country.
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