Taiyen Green Energy Corruption Scandal Erupts: Tainan Prosecutors Raid 32 Locations and Seek Detention for Former DPP Lawmaker Chen Chi-yu and 4 Others

On October 22, 2024 (113th Year of the Republic of China), under the direction of the Tainan District Prosecutors Office, over a hundred investigators from the Investigation Bureau raided 32 locations, including the headquarters of state-backed Taiyen Industries, its subsidiary Taiyen Green Energy, and the residences of executives and subcontracted solar developers. A total of 34 individuals (19 defendants and 15 witnesses) were brought in for questioning. Investigators uncovered that former DPP lawmaker and Kaohsiung Vice Mayor Chen Chi-yu, who was appointed by the DPP administration to chair Taiyen and Taiyen Green Energy, colluded with former General Manager Su Kun-huang and private developers such as Hong-Hui International and Chao-Yang Development. They allegedly engaged in bid-rigging, inflating civil engineering costs, and signing unequal contracts, inflicting nearly NT$300 million in losses on Taiyen Green Energy. Following an overnight interrogation, prosecutors filed for the pre-trial detention of Chen Chi-yu and four other key executives on October 23 on charges of aggravated breach of trust under the Securities and Exchange Act.