July 25 (Bloomberg) -- Chong Hong Construction Co. Chairman Lee Wen-tsao and his wife came under investigation yesterday over alleged breach of trust, said Lin Chin-chun, spokesman for the Taipei district prosecutors office.

Prosecutors raided Lee’s home and other locations including the company yesterday, Lin said. The Taiwan developer, which builds luxury apartments, said in a stock exchange filing late yesterday that its offices had been searched by Taiwan prosecutors, without giving details.

Phone calls to Chong Hong seeking comment from Lee weren’t answered today, and company spokesman Chen Mao-Ching couldn’t immediately be reached. The name of Lee’s wife was available only in Chinese characters without an alphabetic reading.

Lee and his wife are suspected of buying land to resell to Chang Hong at higher prices between 2004 and 2008, Lin said.

Chong Hong said in the statement it will cooperate in the investigation, adding that its financials and operations won’t be affected by the probe.

To contact the reporter on this story: Weiyi Lim in Taipei at Wlim26@bloomberg.net

Last Updated: July 25, 2009 01:04 EDT