On February 13, 2007, Ma Ying-jeou, the chairman of Taiwan's opposition party was indicted on embezzlement charges from his time as Mayor of Taipei. That same day, Ma stepped down as leader of the Kuomintang Party and proceeded to announce his candidacy for the Presidency of Taiwan. In the indictment, Ma was accused by the Taiwan High Prosecutors Office of embezzlement. He was ultimately acquitted on these charges by the Supreme Court and elected President of Taiwan in 2008.