Farglory Group Chairman – Chao Tengxiong confessed Monday to paying a $16 million NT bribe to a former Taoyuan County official, to secure a contract for a public housing development in the county.

According to the Taipei District Court, Chao admitted to the bribe at a detention hearing, which later ordered that he and senior Farglory executive Wei Chun-xiong be detained as the investigation into the corruption case continues.

The court’s ruling reversed a previous ruling made Saturday that released both Chao and Wei on bail.

Prosecutors say Chao and Wei told the court they paid a bribe of $16 million NT in cash to former Taoyuan County Deputy Magistrate Yeh Shiwen through college professor Cai Renhui.

Yeh, who has been detained on bribery charges in connection with the public housing project case, was dismissed from his position as deputy magistrate on May 30th.

Chao and Wei face between one and seven years in jail if they are indicted and found guilty of the charges.

 

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