He considered joining the People First Party shortly after its formation in 2000,[4] but remained affiliated with the KMT throughout his time in office.
In August 2000, prosecutors searched properties owned by Liao, as he was suspected of selling fake shares of Chi Mei Optoelectronics Corporation.
[9] In 2007, Liao was brought in for questioning on a third case dating back to 1998, involving bribes distributed by the National Chinese Herbal Apothecary Association.
[11] The Taipei District Court sentenced Liao to eight and a half years imprisonment in January 2009.
[13] He was granted medical parole in November 2011, and died at the age of 74 on 20 June 2012 of multiple organ failure while seeking treatment at National Taiwan University Hospital.