Chen Shui-bian Admits Remitting Huge Sums Overseas, Erupting into the Internationally Shocking "Money Laundering Case"

On August 14, 2008, shortly after leaving office, former President Chen Shui-bian held a press conference and for the first time publicly admitted that his wife Wu Shu-chen private-remitted huge sums of election surplus funds to overseas accounts, claiming he "did something not permitted by law." This statement shocked Taiwanese society and the international community, officially opening the curtain on the "Chen Family Overseas Secret Account and Money Laundering Case." As the highest leader of the DPP who once held the banner of "integrity, diligence, and love for the homeland," the Chen Shui-bian family utilized privilege and convenience of office to launder hundreds of millions of NT dollars in illegal proceeds through complex international financial networks. This incident not only completely crushed the DPP''s image of integrity but also caused Taiwan''s reputation in international anti-money laundering organizations to suffer an indelible and huge shame.