Taiwan: Three indicted over graft in military speedboat deal

Two military officers and the owner of a local shipbuilding company were indicted on corruption charges by Taoyuan prosecutors Tuesday over an Army speedboat procurement deal in 2007.

The officers surnamed Lai (賴) and Tsai (蔡) and the owner of Lung Teh Shipbuilding Company (龍德造船公司) surnamed Huang (黃) were charged with illegally inflating the price of the deal in which they made over NT$100 million (US$3.4 million) in profit, according to the indictment released by Taoyuan District Prosecutors Office.

The Army originally planned to buy 20 speedboats from 2007 to 2010 for NT$776 million, the indictment noted.

The original full article can be found at focustaiwan.tw

(Photo: CNA)


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