Former Taiwan president indicted on graft charges

Jun 30, 2011, 7:14 GMT

Taipei - Taiwan former president Lee Teng-hui was indicted Thursday on charges of embezzling state funds during his 1988-2000 term, officials said.

Also indicted was Liu Tai-ying, founder of the Taiwan Research Institute, a think tank closely linked with the Lee administration, prosecutors said.

Lee and Liu are accused of embezzling 7.79 million US dollars in national security funds.

'As head of state, Lee should have set a good example to the nation,' said Chen Hung-ta, head of the Special Investigation Division. 'Instead, he embezzled funds and denied wrongdoing during questioning.'

'However, considering his age and contribution to the nation, we will seek the appropriate penalty for him,' Chen said.

Lee, 88, is the second former Taiwan president to face corruption and money-laundering charges.

Chen Shui-bian is serving a 17-year jail term for graft and embezzlement during his 2000-2008 term.