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 [zh] 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]
