Lee Teng-hui, the former president of Taiwan, has reportedly been indicted on charges that he and a former economic adviser embezzled funds from one of the country’s intelligence agencies between 1994 and 1999.

Mr. Lee, who is 88 years old, and the first directly elected leader of Taiwan, had been under investigation since 2002, when a media leak alleged embezzlement within the National Security Bureau.

Mr. Lee and his former adviser, Lui Tai-ying, have been accused of siphoning $7.8 million from the fund that operates secret diplomatic activities. It has been reported that the Taiwan Supreme Prosecutors’ Office believe that the funds were used to found a private think tank called the Taiwan Research Institute.

Mr. Lee denies the charges against him and has stated that the charges are politically motivated.