Prosecutors freeze Chen assets

The action comes 14 months after the Special Investigation Unit (SIU) started the corruption probe.

But the SIU has left NT$50 million in the family's bank accounts unfrozen for living expenses, said Chen Yun-nan, director of SIU.

SIU took an inventory of domestic assets currently registered to the former first couple, their son and daughter-in-law and placed holds on all their real estate properties, timed deposits and stocks tallying about NT$500 million.

But SIU's action did not take into account of the assets belonging to the former president's daughter, Hsing-yu.

The SIU official said there was no evidence linking the daughter to the alleged crimes, and therefore her personal wealth was left untouched.

On Oct. 23, SIU ordered various financial institutions and government agencies to suspend all transaction on the Chen family's assets, which could be confiscated by the government in the future if they are convicted of the crimes as charged, the director said.

The former first family will still have access to a total of about NT$50 million deposited in several accounts, including one at the Bank of Taiwan for allowance for retired presidents, the director pointed out.

The sum also included assets placed in trust, and other savings accounts, he added.

Frozen items include their real estate in Taipei: one unit at the luxury apartment building Paolai Garden, their former residence at the Mingsheng community, an office leased to a law firm, and two other houses.

An apartment in Kaohsiung, and land in Chen's home county of Tainan have also been frozen.

Frozen liquid assets include: former first lady Wu Shu-chen's Changhwa Bank timed deposit of NT$8 million; and her brother Wu Jing-mao's timed deposit of NT$18 million in the same bank.

Others are Chen's son Chih-chung's deposits in Changhwa and E. Sun banks totaling NT$10.3 million; daughter-in-law Huang Jui-ching's NT$10.8 million in Mega Bank and Lukang Credit Cooperative Union; and Chih-chung's stock holdings worth about NT$24 million, plus dismonds worth NT$100 million.

The ex-president, 59, and his wife were both sentenced by the Taipei District Court to life in jail for corruption and other charges.

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