Wu Tsung-hsien denies insider trading allegations

Wu Tsung-hsien, a Kuomintang candidate for Yilan County Magistrate, has filed a lawsuit against a weekly magazine following reports alleging his involvement in insider trading. Wu dismissed the claims as nonsense and an attempt by media outlets to demonize him during the election period.

Wu stated that his financial disclosures are transparent and that he maintains strict standards for his personal accounts. He accused certain media entities of acting as tools for political opponents and expressed concern over the use of judicial resources to influence local elections.

Kuomintang Chairperson Cheng Li-wen defended Wu, suggesting the allegations are a sign of political pressure from the Democratic Progressive Party and the New Tide faction. She characterized the reports as baseless attempts to interfere with the Yilan election process.