Taiwan prosecutors said on Tuesday Merrill Lynch would cooperate in the investigation into the possible money laundering by family members of ex-President Chen Shui-bian. Family members of Chen, who was in office from 2000 to May 2008, were suspected of graft, prompting prosecutors to investigate them over the past few years, tarnishing the image of the Democratic Progressive Party.
"Merrill Lynch told us they are willing to cooperate with us," prosecutor Chu Chao-liang told Reuters by phone. "Within legal procedures, they would be willing to provide information," Chu said, referring to bank accounts of Chen's family members. He declined to elaborate further. Vicki Kwong, a Merrill Lynch spokesperson, declined to comment on any aspects involving in the possible money laundering.
Taiwan's Justice Ministry said earlier this month its Swiss counterparts had requested assistance in an investigation into suspected money laundering involving accounts held by Chen's son Chen Chih-chung and daughter-in-law Huang Jui-ching. Swiss authorities have frozen $21 million in two accounts Chen Chih-chung and Huang they had previously set up with Merrill Lynch and Royal Bank of Scotland, Taiwan prosecutors have said.
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