Taipei: A former Democratic Progressive Party (DPP) lawmaker, who was wanted in connection with alleged fraudulent activities at a state-linked green energy enterprise in Tainan, has surrendered himself to the authorities. This development comes three weeks after a warrant was issued for his arrest. Chen Chi-yu, who served as the chairman of Taiyen Green Energy Co. from 2016 to 2021 and was a Legislative Yuan member from 2005 to 2010, appeared at the Tainan District Prosecutors Office alongside his lawyer for questioning by investigators.According to Focus Taiwan, Chen is facing allegations of violating the Securities and Exchange Act for breach of trust offenses and the Criminal Code for causing a public servant to publish an official document with false information. Prosecutors have filed a motion with a local district court to detain Chen incommunicado to prevent potential flight, evidence destruction, or collusion with others. The court granted this request, leading to Chen's detention for up to two mon ths while the investigation proceeds.In a coordinated effort in October, the Tainan District Prosecutors Office, along with the Ministry of Justice's Investigation Bureau, conducted searches at 32 locations, including Taiyen Green Energy's offices in Gueiren District, to gather evidence of suspected fraud. On October 23, prosecutors sought to detain Chen and four other suspects, but the initial request was denied by the Tainan District Court.Following a successful appeal to the Taiwan High Court, another detention hearing was scheduled for November 1, which Chen failed to attend, resulting in an arrest warrant issued on November 4. The four other suspects related to the case are already in investigative detention. They include Su Kun-huang, Taiyen Green Energy's former general manager, a former vice general manager surnamed Kuo, and individuals from Great Glow Technology Co. Ltd. and Chao Yang Development Co., surnamed Su and Tai, respectively.Taiyen Green Energy was founded in April 2017 as a subsidiar y of Taiyen Biotech Co. Ltd., in line with the government's energy transition initiatives. The Ministry of Economic Affairs is the largest shareholder of Taiyen Biotech, holding 38.88 percent of the shares.

Recent Posts
Taiwan Shares Close Down 3.64%
June 26, 2026
Taiwan Tightens Regulations on ‘Fresh Milk’ Labeling
June 26, 2026
EVA Air Launches Maiden Flight to Washington, D.C.
June 26, 2026