Cai Zhengyuan Sentenced to Electronic Monitoring for Misappropriation
Former Kuomintang legislator Cai Zhengyuan has been sentenced to 3 years and 6 months in prison for misappropriating assets of Apollo Investment Company through stock transactions involving Chungying. Due to his flight risk, the court today ordered him to wear an electronic monitoring device.
The court found that Cai deliberately concealed accounting items during the transaction, resulting in inaccurate financial statements, leading to charges of business misappropriation and violations of commercial accounting law. After being entrusted to manage the transaction, he misappropriated over NT$280 million for personal use.
