Wu Zongxian was sentenced to 22 months and suspended for 3 years Posted on Weibo to deny guilt and claimed to be implicated

> Wu Zongxian was sentenced to 22 months suspended for 3 years. Posted to Weibo to deny guilt and claimed to have been implicated On the 27th, Wu Zongxian emptied Lianming Technology Company of more than NT$30 million in NT$ and was sentenced...

On the 27th, Wu Zongxian was sentenced to 1 year and 10 months in prison, suspended for 3 years, and had to pay NT$3 million (approximately 600,000 yuan).

According to Taiwanese media, Wu Zongxian invested in the LED energy-saving industry Al Luminous Technology Co., Ltd. Not only did he suffer losses, but he was also investigated by prosecutors and suspected of colluding with Xu Fengyang, a listed company, Lianming Action Technology, to use fake transactions to jointly drain Lianming's NT$32.5 million in assets. Last year, he was prosecuted for business misappropriation and other crimes.

> Wu Zongxian issued a statement on Sina Weibo on the 27th, saying that he was unreasonably implicated and felt extremely helpless. His agent said: "Mr. Wu is a good person and has not done any illegal behavior." Wu Zongxian's agent, Ms. Cheng, also said: "We will appeal to the end for this unjust disaster."

Why was he sentenced? Investigation for suspected "fake transactions and real loans"

On July 13, 2011, Wu Zongxian was suddenly interviewed by the Taipei Prosecutor's Office because he was suspected of "fake transactions and real loans" and violated the Commercial Accounting Law. At that time, a "hollow-out case" broke out in Taiwan's over-the-counter company Lianming Action Technology. The company's former chairman, Xu Fengyang, was suspected of misappropriating nearly NT$100 million in company funds through misappropriation, borrowing, investing, manipulating stock prices, falsely increasing revenue or falsely increasing capital to beautify financial reports. Among them, NT$60 million was found to have flowed to Wu Zongxian's Alpha Company account in January 2009.

Although on the surface it seemed that the technology company was purchasing LED products from Alfa Company, in March of the same year, Alfa Company "terminated the contract" on the grounds that it had insufficient production capacity and was unable to ship. However, the prosecutors believed that this account was very suspicious and suspected that Wu Zongxian collaborated with Xu Fengyang to hollow out Lianming. Afterwards, the Taipei District Prosecutor's Office directed the Taipei City Investigation Division to conduct a comprehensive search for evidence, including Wu Zongxian's Alfa Company.

When going to the prosecutor to explain the case, Wu Zongxian admitted that Lianming Action Technology did use 60 million promissory notes to purchase LED lights in January 2009, but later canceled the cooperation in March due to insufficient production capacity. Afterwards, Wu Zongxian returned NT$36 million in cash, and the remaining NT$24 million was subsequently returned. However, even so, after the Taipei District Prosecutor's Office completed its investigation in 2012, Wu Zongxian was still listed as a defendant for breach of trust, violation of commercial accounting regulations and other crimes, and public prosecution was launched.

Wu Zongxian was sentenced to 22 months in prison. His agent said he would appeal to the end

After more than a year of trial, the case was decided yesterday. The Taipei District Court originally charged Wu Zongxian with emptying NT$32.5 million in assets of Lian Ming Technology Company, and charged him with business embezzlement and other crimes under the Securities and Exchange Act, which carries a maximum penalty of 10 years in prison. Because Wu Zongxian pleaded guilty and reached a settlement with the Investor Protection Center, the Taipei District Court sentenced Wu to 1 year and 10 months in prison for violating the Securities and Exchange Act, suspended for 3 years, and fined NT$3 million.

After the verdict was exposed, Wu Zongxian issued a rare high-profile clarification on Weibo last night, saying that he has been in the entertainment industry for more than 30 years and only knows how to perform for the audience. He has never done anything against his conscience and has never dealt with finances. Regarding being involved in the hollowing out case, Wu Zongxian said that he was implicated by his childhood friends and felt very helpless. He also swore in the name of his parents that he would never participate in the operation to hollow out Lian Ming. At the same time, Wu Zongxian said that he has left full power to the lawyers and believes that the law will clear his name. Last night, the reporter also immediately called his agent, Ms. Cheng. She said that Wu Zongxian was innocent from beginning to end, how could he plead guilty, and criticized the Taiwan media for confusing right and wrong. She said that she has not received the verdict yet, but her attitude is firm: "We will appeal to the end for this unreasonable disaster."

Wu Zongxian's statement:

Zongxian has only known how to perform for everyone in his life of more than 30 years in the entertainment industry, and dedicated his youthful years only to Bojun Yichan! I haven't done anything against my conscience! This lawsuit: I was unreasonably implicated by a childhood friend, and I felt extremely helpless. I had never dealt with finances in my life, so how could I do something that would harm my reputation? ? I believe the law will return my innocence! I also leave it to my lawyer to fully defend my personal reputation! Zongxian can choose to be cautious in his words and deeds, but he cannot choose my childhood... I am a little helpless but I can only swallow it by myself. God knows, earth knows, you know, I know! "A noble character can only be found in a small room", this has been my court motto since childhood! In the name of my parents, I make a solemn oath!