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Ill-gotten asset panel to ‘settle’ accounts: Koo

Committee of Illegal Party Asset Settlement Chairman Wellington Koo (顧立雄) yesterday said the organization would return the ill-gotten assets obtained by the Chinese Nationalist Party (KMT) during its authoritarian rule to their rightful owners.

During a plaque unveiling ceremony in Taipei, Premier Lin Chuan (林全) presented Koo with a seal and an appointment order, officially launching the committee.

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Lawmaker pans FSC probe on Mega

The government should not have let the Financial Supervisory Commission (FSC) lead an administrative investigation into Mega International Commercial Bank’s violation of US rules against money laundering, New Power Party Executive Chairman Huang Kuo-chang (黃國昌) said.

People have been mostly concerned with the suspected money-laundering activities, which have been put under judicial investigation, Huang said in a radio interview yesterday.

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Newsflash

TAIPEI (Taiwan News) – The ruling Kuomintang lost Ilan to the opposition Democratic Progressive Party and Hualien to an independent in Saturday’s local elections, with a review being demanded for Penghu.

The KMT ended up with a total of 12 counties and cities, the DPP with four, in elections widely seen as a popularity test for President Ma Ying-jeou, less than two months after taking office as KMT chairman. The ruling party’s total share of the vote slipped to 47.86 percent, compared to the DPP’s 45.39 percent.