Feds Use Forfeiture Proceeding To Snatch Downtown NYC Condo Bought With Bribe Cash

In New York City, the New York Post reports:

• Never mind the skeletons in the closet.
  
  The feds have taken ownership of a luxury Chelsea condo that was bought with bribe money paid to the former first lady of Taiwan.
  
  The two-bedroom apartment in the Onyx Chelsea, which sold for nearly $1.6 million in 2008, was one of two American properties that the family of ex-Taiwanese President Shui-Bian Chen bought to help launder the illicit payoffs.
  
  The $6 million pocketed by Sue-Jen Wu came from Yuanta Securities Co. to ensure her hubby’s government wouldn’t oppose its bid to acquire a financial holding company, according to US Immigrations and Customs Enforcement.
  
  A forfeiture deal with the shell company that held title to the condo and another property in Virginia means the feds will get some 85 percent of net sales proceeds.

Source: Scandal-condo deal.