Andrew Oung (4 June 1950 – 6 March 2015) also known by his Chinese name Oung Ta-ming, was a Taiwanese businessman whose family ran the Hualon Textile Corporation. Oung served in the

Legislative Yuan The Legislative Yuan is the unicameral legislature of the Republic of China (Taiwan) located in Taipei. The Legislative Yuan is composed of 113 members, who are directly elected for 4-year terms by people of the Taiwan Area through a parallel v ...

from 1993 to 1996.

Career

Oung's father founded 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 The Taiwan Stock Exchange Corporation (TWSE; ) is a financial institution, located in Taipei 101, in Taipei, Taiwan. The TWSE was established in 1961 and began operating as a stock exchange on 9 February 1962. It is regulated by the Financial S ...

. In 1992, Oung was jailed in an insider trading and price manipulation scandal, in part because the $22 million Hualon planned on investing in the stock market were never paid. Oung was one of 38 people charged in the scandal. He sought a seat in the

later that year, hoping to secure political immunity and won as an independent. 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. Oung served over half of a two-year sentence before being paroled in 2011. The next year, former employees at Hualon's

Toufen Toufen (Hakka PFS: ''Thèu-fun''; Hokkien POJ: ''Thâu-hūn'') is a county-administered city in northern Miaoli County, Taiwan. Its city centre forms a continuous urban area with Zhunan. History In 2007, there was a revitalization project for ...

factory organized protests, alleging that they were owed $22 million in lost wages and pensions due to Hualon's bankruptcy. In 2014, James and Andrew's acquisition of Paladin was challenged by their nephew, the former CEO of Paladin. Andrew Oung died in of a heart attack in 2015, at his home in Taipei.

References

{{DEFAULTSORT:Oung, Andrew 1950 births 2015 deaths Taiwanese politicians convicted of fraud Members of the 2nd Legislative Yuan Republic of China politicians from Zhejiang Businesspeople from Ningbo Taipei Members of the Legislative Yuan