Mr. Huang Ssu-chu and thirteen other directors, supervisors and high officials of the Tung Yi Trust Ca. which suspended business on June 16, have Been cited as defendants in 8 private criminal prosecution, being alleged to have misappropriated Chi-hose Government bonds of a total face value of over $100,000, A hearing was held before Judge Chun, in the First Special District Court, on July 9 and adjourned sine die. With the exception of one official, none of the defendants appeared Ju Court.
According to Mr. Yang Mac-tsai, Mr. King Yihefeng, and Mr. Li Sungmnsolidated Bonds $86,190, Class "B" of a total face' Value of '$21,200, and Class "C" of 2 total face value of $750 were placed in the company for safe keeping. 'Atter the suspension of business, the plaintiffs asked for the refurl of These. bonds, but had received no sallstactory reply. The bonds wore Understood to have been pledged as security with another bank by the firm without the plaintiffs' approval.
Mr. Teng Tung-ming, one of the fourteen defendants, told the Court that he was merely an employee of the firm, having been in charge of the Insurance department. He had no. connection with any business dealings in bonds.
"Mr, Li Tso-yue, a public account. art, told the Judge that he was examining the firm's books and had knowledge if any bonds fied been pledged for security by the firm. had to go over the books before he could give evidence in Court.
Text read from the printed page and cleaned; old type leaves the occasional error.