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Switzerland to return money held in Chen Shui-bian accounts

  • 30 April, 2015
  • Editor

Switzerland's Supreme Court has ruled that US$6.74 million on deposit in accounts held by Taiwan’s former President Chen Shui-bian should be returned to Taiwan.

Chen and members of his family were accused of laundering large sums of money by sending political donations and secret diplomatic funds overseas. Chen was also accused of taking kickbacks on government contracts and accepted bribes during his presidency from 2000 to 2008. Chen was convicted in 2009 and is currently on medical parole.

In 2013, Taiwan requested that Switzerland return the nearly US$7 million, which had been frozen in Swiss bank accounts in the names of Chen's son and daughter-in-law. At the time, the couple contested the request in Swiss courts. Switzerland’s Supreme Court later overruled the case.

Taiwan’s Justice Minister Lo Ying-shay said on Thursday that Switzerland will be returning the money soon.

 
"[Switzerland’s Supreme Court] has already informed us that they will remit the money to bank accounts designated by the Special Investigation Division," Lo said. "We should be receiving the money soon. We have been in contact with them about details. I can’t say the exact date, but it will be soon." 

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