TAIPEI (Taiwan News) — The husband and father-in-law of former President Chen Shui-bian’s (陳水扁) daughter have started prison terms for insider trading 16 years after the fact, reports said Tuesday (Oct. 26).

Chen’s son-in-law Chao Chien-ming (趙建銘) headed to prison one day early Monday (Oct. 25), apparently to avoid media attention, the Liberty Times reported. His father Chao Yu-chu (趙玉柱) and businessmen Su Teh-chien (蘇德建) and Yu Shih-yi (游世一) started their prison terms on Tuesday.

After Su was elected chairman of Taiwan Land Development Corporation (TLDC) in 2005, he soon learned about an impending syndicated loan which would net the company a huge profit. He leaked details about the project to the Chaos, real-estate developer Yu, and Waterland Securities Co. board member Tsai Ching-wen (蔡清文) during a meeting at a restaurant.

They went on to buy shares of TLDC but were found out and indicted, with Tsai providing information against the others. His case has still not been finalized by the courts, according to the report.

While Chao Chien-ming had not directly profited from the transactions, he was sentenced to three years and eight months in prison for violating the Securities and Exchange Act. His father received a four-year jail term and had NT$35.17 million (US$1.26 million) in illegal profit confiscated; Su was sentenced to three years and eight months with the confiscation of NT$66.47 million; and Yu received a jail term of four years and four months while having to give up NT$5.67 million.

Chao Chien-ming reported for jail at the Taichung District Prosecutors Office Monday, while his father appeared in Tainan Tuesday morning. Su and Yu reported for their prison terms in Taipei.