The Control Yuan has passed an impeachment case against a former labor fund official convicted on corruption charges in August, as well as his supervisor, the top government watchdog said Friday.
Five Control Yuan members launched an investigation into Yu Nai-wen (???), a former head of the domestic investment division of the Ministry of Labor’s Bureau of Labor Funds and Tsay Feng-ching (???), who was removed for his post as head of the bureau, over the scandal reported to the Agency Against Corruption in September 2020.
Members of the Control Yuan convened on Thursday to review the investigation’s findings and unanimously approved the impeachment case, according to its statement released on Friday.
Yu, who was dismissed after he was indicted on charges of corruption and manipulating stock prices in February 2021, was sentenced to nine years in prison by the Taipei District Court in August.
The court also found nine of the 11 asset managers indicted guilty of violating the Securities and Exchange Act, and the Securities Investment Trust and Consulting Act or of the crime of falsifying documents.
The use of monies from the Bureau of Labor Funds to buy shares offloaded by PJ Asset Management Co. since July 2020 had allowed the company to pocket more than NT$500 million (US$16.32 million) in profit, the court said in its ruling.
In addition to Yu colluding with PJ Asset Management and using labor funds to manipulate the share prices of Far Eastern Department Co., the Control Yuan also cited Yu’s improper workplace conducts and violation of the conflicts of interest policy.
Yu failed to report having meals with people working with the bureau and was accused by a former bureau employee of bullying in the workplace, the Control Yuan said.
The Control Yuan also found that Tsay, who the Ministry of Labor has moved to a nonmanagement role, was guilty of poor oversight.
According to the Control Yuan, Tsay had ignored Yu’s past drunk driving records as well as suggestions made by the bureau’s internal affairs office to move Yu from his post after investigating allegations against him.
Tsay even nominated Yu as a “model civil servant of the labor ministry,” the Control Yuan said in its statement.
The impeachment case will be sent to the Disciplinary Court under the Judicial Yuan, which will decide whether to proceed and what measures it can take against Yu and Tsay, the Control Yuan said.
Source: Focus Taiwan News Channel