Jacky Wu: Popular Taiwan TV host facing 10 years jail time

Uploaded by NMAWorldEdition on 14.03.2012

Popular TV host facing 10 years jail time on embezzlement charges
Popular variety show host Jacky Wu is in big trouble.
Back in 2008, he bought half the stock of LED company Alpha Photonitek Corp (APC) for NT$30 million, and became chairman of the board.
But prosecutors discovered that Wu and his good friend Hsu Feng-yang, chairman of Lienming Mobile Technology signed a contract in 2009.
Lienming bought 600,000 LED products from Alpha.
Lienming paid NT$60 million of promissory notes in advanced. Jacky Wu took two of the notes, worth NT$40 million. He then borrowed same figure from a doctor friend.
When the deadline approached, Wu wired NT$27,500,000 to Lienming.
Hsu withdrew NT$20 million, keeping the rest of the promissory notes for his personal use.
But the contract got cancelled. Hsu got worried and borrowed NT$ 30 million dollars from a friend then paid it back to Lienming posing as Jacky Wu.
Wu denied any wrongdoing while under investigation last year.
"Why are you here today?" "I'm here to cooperate with the investigation." "Tell us what is going on?" "I just have nothing to say." "You were in there for a long time!" "We were just chatting." "What did you talk about?" "OK. Thank you!"
Prosecutors allege Wu and Hsu embezzled from Lienming together, taking away it's NT$32,500,000 assets.
Wu was indicted with securities violations, which carries a sentence of up to 10 years in prison.
But as Wu isn't the prime suspect, prosecutors didn't ask for a sentence for him.
On the other hand, prosecutors asked for 15 years in jail for Hsu.
Wu once said he would leave the entertainment world, if he had committed a crime. A lot of show business affiliates hope he wouldn't need to leave. His fans also choose to believe his innocence. �