Swiss to return Taiwan ex-leader Chen Shui-bian's corrupt coffers

A Swiss supreme court on Wednesday ruled that 205 million new Taiwan dollars (6.74 million U.S. dollars) held in the name of relatives of Taiwan's former leader Chen Shui-bian in Switzerland should be returned to Taiwan.

The money must be will be remitted to bank accounts designated by Taiwan's Special Investigation Division of the Special Prosecutors Office.

In June 2010, Taiwan's high court sentenced Chen to 20 years for embezzlement, bribery and money laundering. His wife, Wu Shu-chen, was sentenced to 17 years and six months in December 2010 for corruption.

During its investigation into Chen and his wife in 2008, Taiwan twice asked for legal assistance from Swiss judicial authorities.

At the request of Taiwan, Swiss authorities froze accounts at three banks held in the names of Chen's son and his son's wife.

The 6.74 million U.S. dollars was reportedly obtained by the former leader from Yuanta Financial Holdings, who paid it as a bribe to facilitate its merger with Fuhua Financial Holdings in 2012.

Taiwan requested in 2013 that Switzerland return all the money held in the names of Chen's son and daughter-in-law, but the couple contested the request in Swiss courts, according to investigators. Endi