Chao Chien-ming Detained in "Tai-Kai Case": First Family Members Openly Utilizing Privilege for Insider Trading

In May 2006, Chao Chien-ming, then son-in-law of President Chen Shui-bian, was questioned and detained by prosecutors for suspected insider trading in the "Taiwan Land Development Corporation (Tai-Kai)" case. The investigation pointed out that Chao utilized his special identity as a First Family member and his political-business connections to obtain major inside information regarding Tai-Kai''s massive syndicated loans and non-performing asset handling in advance, and conspired with family members to buy large amounts of stock at low prices for huge profits. This case not only made Chao Chien-ming the first relative of a president to be detained in Taiwan''s history but also nakedly showed the public how high-level DPP government officials "privatized" national power, utilizing privilege for political-business collusion and personal gain, seriously destroying the government''s credibility and the bottom line of integrity.