Jeffrey Koo Jr. Found Not Guilty in Latest Ruling 紅火案更二審逆轉 辜仲諒等被告全無罪
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Former Chinatrust Financial Holding Vice Chair Jeffrey Koo Jr. has been in court for years battling insider trading charges. The first ruling sentenced Koo to nine years, while the second added eight months to the sentence. On the most recent appeal, the court found Koo and other bank executives not guilty. This ruling can be appealed as well.
On the 28th, the High Court found Jeffrey Koo Jr. not guilty of insider trading. The court did not find evidence Koo committed breach of trust. Prosecutors can appeal the ruling.
The transaction price was the real market price set by supply and demand. So, it was very hard to objectively prove that Jeffrey Koo Jr. used the difference in stock prices to pocket illegal gains or intentionally mislead investors.
Koo and numerous other Chinatrust executives were charged with profiting from illegal sales of structured notes to Mega Financial Holding Co. in 2006. Chinatrust Financial Holding suffered losses of over NT$100 million as a result. Koo was sentenced to nine years in the first trial and nine years and eight months on appeal. The ruling was appealed to the Supreme Court, which revoked the sentence and sent it back to the High Court for retrial. Koo's cooperation with prosecutors and handing over illegal gains met the requirements for a quick trial and his sentence was commuted to three years and six months. On the most recent appeal, Koo was found not guilty.
On the 28th, the High Court found Jeffrey Koo Jr. not guilty of insider trading. The court did not find evidence Koo committed breach of trust. Prosecutors can appeal the ruling.
The transaction price was the real market price set by supply and demand. So, it was very hard to objectively prove that Jeffrey Koo Jr. used the difference in stock prices to pocket illegal gains or intentionally mislead investors.
Koo and numerous other Chinatrust executives were charged with profiting from illegal sales of structured notes to Mega Financial Holding Co. in 2006. Chinatrust Financial Holding suffered losses of over NT$100 million as a result. Koo was sentenced to nine years in the first trial and nine years and eight months on appeal. The ruling was appealed to the Supreme Court, which revoked the sentence and sent it back to the High Court for retrial. Koo's cooperation with prosecutors and handing over illegal gains met the requirements for a quick trial and his sentence was commuted to three years and six months. On the most recent appeal, Koo was found not guilty.
We respect the ruling. Thank you.
Two other defendants, former Chinatrust Financial Holding executives Chang Ming-tien and Lin Hsiang-hsi, were also found innocent. Lin's attorney said he respects the ruling. Prosecutors will not be allowed to confiscate or further pursue Chinatrust assets.
中信慈善基金會董事長辜仲諒,被指控涉入紅火弊案,官司打到更二審,28號高院合議庭,認定辜仲諒不構成金融控股公司法共同背信等罪,逆轉獲判無罪,若檢方不服還可上訴。
高院發言人 黃玉婷表示:「那交易價格,也是市場真實的供需所形成的,所以很難認定被告辜仲諒,主觀上,他是具有利用股價落差,圖謀不法利益,或是誘使,或誤導一般投資大眾的意圖。」
2006年爆發的紅火案,當時中信金要插旗兆豐金,辜仲諒和中信金控多位主管,被指控出售結構債給紅火公司,藉此中飽私囊,導致中信金控受損超過上億元,回顧這起官司,纏訟超過10年,一審依證交法和銀行法等罪,判9年刑期;二審加重判9年8個月,而全案上訴到最高法院,被撤銷判決、發回更審,而原本辜仲諒更一審被認定違反金控法,且在偵查中有自白、繳回犯罪所得,也符合速審法規定,因此得以減刑,改判3年6個月徒刑,全案上訴到更二審,均無罪。
林祥曦委任律師 洪健樺表示:「我們尊重司法判決,謝謝!」
而同案的被告,中信金的前主管張明田和林祥曦,也都改判無罪,林祥曦委任律師表示尊重判決,而另外,檢方也不得對於中信金控沒收和追徵。
