Brian Hioeby Brian Hioe
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Photo Credit: Ma Ying-jeou/Facebook
THE SAGA OF the Ma Ying-jeou Foundation has taken another strange turn, with an investigative team convened to look into allegations of financial wrongdoing by two former employees instead clearing them, but questions raised about the integrity of the investigation.
Controversy revolves around former Ma Ying-jeou Foundation CEOs Hsiao Hsu-tsen and Wang Kuang-tzu, who had since left the foundation’s employment by the end of February. Both were under investigation for supposed financial irregularities, as well as trips to China during which they met with Taiwanese businessmen living in China.
The members of the probe committee stated that it did not have access to complete records of the Ma Ying-jeou Foundation, and were interfered with multiple times. In particular, the probe committee claimed that former National Security Council secretary-general King Pu-tsung alleged that Ma Ying-jeou had authorized him to handle the matter of Hsiao and Wang, but never presented a letter of authorization.
For his part, Ma has denied that the probe’s findings could be correct. King and Ma Ying-Jeou Foundation chair Tai Hsia-ling later held a press conference, outlining their own set of allegations. At the press conference, photos of Hsiao meeting with Taiwan Affairs Office director Song Tao, were shown. At the meeting were foundation board members Hsueh Hsiang-chuan and Lee De-wei, who were part of the probe team, suggesting irregularities with the investigation.
Likewise, questions were raised about a photo that shows Hsiao and Han Ying-huan, director of the Association of Taiwan Investment Enterprises on the Mainland, posing with two large bags of cash. In early 2026, Wang reportedly distributed annual bonuses to employees using cash, when annual bonuses had previously been distributed by bank transfer. In December 2025 or January 2026, Wang, likewise, was accused of bringing 1.2 million NT in cash into the foundation’s offices, and handing it to employees to look after–prompting concerned employees to photograph the cash because they were not sure where it was from. Allegations that KMT politicians may be receiving Chinese funding handed to them through stacks of cash have occurred in the past. The New Taipei city government is reportedly now investigating the possibility of unreported income by the foundation.
What proves further controversial, however, is that Ma’s health problems may have become publicized as a result of the scandal. When defending himself. Hsiao claimed that Ma had “forgotten many things”, which was interpreted as revealing that Ma had dementia. After the results of the probe were publicized, Hsiao stated that an unnamed individual had taken advantage of Ma’s dementia in order to attack him, the KMT, and hurt cross-strait relations.
Adding to the confusion is that Ma’s wife, Chow Mei-ching, made a public statement that she and other members of the Ma family had appointed his sister, Ma Yi-nan, to act as his executor. In this role, she would ensure that Ma’s “future medical needs and care are properly arranged,” as well as make public statements on his behalf, with the Ma Ying-jeou Foundation’s affairs being turned over to the board of directors.
Ma has, however, denied that he has dementia and hit out at his sister and wife for issuing a statement without his consent. Ma stated that his sister “absolutely cannot” be put in charge of his personal or financial affairs and that the letter had been “deeply shocked and regretful.”
It proves unclear what is happening within the Ma Ying-jeou Foundation, then. It is possible that there is a power struggle ongoing within the organization, or even among Ma’s family, as dovetailing with Ma’s health issues.