Andrew Oung
| Andrew Oung | |
|---|---|
| 翁大銘 | |
| Member of the Legislative Yuan | |
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In office 1993–1996 | |
| Personal details | |
| Born |
4 June 1950 Cixi, Ningbo, Zhejiang, China |
| Died |
6 March 2015 (aged 64) Da'an District, Taipei, Taiwan |
| Relations |
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| Andrew Oung | |||||||||||||
| Traditional Chinese | 翁大銘 | ||||||||||||
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| Simplified Chinese | 翁大铭 | ||||||||||||
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Andrew Oung (Born 4 June 1950) also known by his Chinese name Oung Ta-ming,[1][2] was a Taiwanese businessman whose family ran the Hualon Textile Corporation.[3] Oung served in the Legislative Yuan from 1993 to 1996.[4]
Career
Oung's father founded Hualon Textile in 1967. In 1992, Andrew 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] 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.[7] Oung served over half of a two-year sentence before being paroled in 2011.[4] 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.[3][4] In 2014, James and Andrew's acquisition of Paladin was challenged by their nephew, the former CEO of Paladin.[8]
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.
- 1 2 Kao, Cameron (26 June 2012). "Hualon workers protest over pensions". The China Post. Retrieved 21 May 2015.
- 1 2 3 "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.
- ↑ 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.
- ↑ "Tycoon Oung Da-ming dies at home". Taiwan News. 6 March 2015. 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.
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