Andrew Oung
| Andrew Oung | |
|---|---|
| 翁大銘 | |
| Member of the Legislative Yuan | |
|
In office 1 February 1993 – 31 January 1996 | |
| Constituency | Taipei 2 |
| Personal details | |
| Born |
4 June 1950 Cixi, Ningbo, Zhejiang, China |
| Died |
6 March 2015 (aged 64) Da'an District, Taipei, Taiwan |
| Political party | Independent |
| Relations |
|
| Andrew Oung | |||||||||||||
| Traditional Chinese | 翁大銘 | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Simplified Chinese | 翁大铭 | ||||||||||||
| |||||||||||||
Andrew Oung (4 June 1950 – 6 March 2015) also known by his Chinese name Oung Ta-ming,[1][2] was a Taiwanese businessman whose family ran the Hualon Textile Corporation. Oung served in the Legislative Yuan from 1993 to 1996.
Career
Oung's father founded Hualon Textile in 1967. At the height of his business career, Andrew Oung was responsible for nearly a third of all trading on the Taiwan Stock Exchange.[3][4] In 1992, Oung was jailed in an insider trading and price manipulation scandal,[5] in part because the $22 million Hualon planned on investing in the stock market were never paid.[6] Oung was one of 38 people charged in the scandal.[7] He sought a seat in the Legislative Yuan later that year, hoping to secure political immunity and won as an independent.[8] However, the debts continued growing. When Oung declared bankruptcy in 1994, he owed various creditors over $152 million. He was again sent to prison in 2010 for fraud leading to the bankruptcy proceedings.[9] Oung served over half of a two-year sentence before being paroled in 2011.[10] The next year, former employees at Hualon's Toufen factory organized protests, alleging that they were owed $22 million in lost wages and pensions due to Hualon's bankruptcy.[11][10]
In 2014, James and Andrew's acquisition of Paladin was challenged by their nephew, the former CEO of Paladin.[12]
Andrew Oung died in of a heart attack in 2015, at his home in Taipei.[9]
References
- ↑ Robertson, Benjamin (18 August 2014). "HK$2.4b feud over Peak properties centres on power of attorney". South China Morning Post. Archived from the original on 2 January 2015. Retrieved 15 November 2015.
- ↑ "Peak property portfolio key to HK$1.6 billion takeover tussle". South China Morning Post. 31 July 2014. Archived from the original on 2 August 2014. Retrieved November 15, 2015.
- ↑ "Economic Roundup". Taiwan Today. 13 October 1992. Retrieved 27 June 2016.
- ↑ "Economic Roundup". Taiwan Today. 6 October 1992. Retrieved 27 June 2016.
- ↑ Liu, Chien-pang; Lin, Chang-shun; Kuo, Chung-han (3 March 2015). "Former Hualon Group chief, lawmaker Oung Ta-ming dies". Central News Agency. Retrieved 21 May 2015.
- ↑ "Taiwan Stock Payment Defaults Are Being Investigated". Los Angeles Times. Reuters. 21 September 1992. Retrieved 21 May 2015.
- ↑ "Financial Focus". Taiwan Today. 28 October 1994. Retrieved 27 June 2016.
- ↑ Pun, Allen (22 December 1992). "Fat cats deflated in election bids; voters reward enemies of graft". Taiwan Today. Retrieved 27 June 2016.
- 1 2 "Tycoon Oung Da-ming dies at home". Taiwan News. 6 March 2015. Retrieved 21 May 2015.
- 1 2 "Former Hualon Group chief, lawmaker Oung Ta-ming dies". Central News Agency. 7 March 2015. Archived from the original on 7 March 2015. Retrieved 21 May 2015.
- ↑ Kao, Cameron (26 June 2012). "Hualon workers protest over pensions". The China Post. Retrieved 21 May 2015.
- ↑ Robertson, Benjamin (27 October 2014). "Oung brothers a step closer to cementing control of Paladin". South China Morning Post. Archived from the original on 8 October 2015. Retrieved 21 May 2015.