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Fugitive tycoon's PX plant erupts in explosion and flames

Fugitive tycoon's PX plant erupts in explosion and flames

Taipei, April 6 (CNA) A paraxylene plant in Fujian owned by Chen Yu-hao (???), one of Taiwan's top ten most-wanted fugitives, broke out in flames following a severe explosion Monday. Reports in China said that the explosion occurred at about 7 p.m., with local residents located 50 km away from the site saying that they could feel the shock from the blast. The blast has caused roof collapses of nearby residences, and plumes of flames continued to rise from the factory Monday evening. Local authorities have yet to verify casualties and property damage from the incident. Chen, former chairman of the Tuntex Group (???), was indicted in 2003 for allegedly embezzling NT$70 billion (US$2.3 billion). The fugitive tycoon has since fled to China, where he has founded another business empire, which includes the paraxylene production complex.
The statue of limitation for legal recourse against Chen will expire next year. (By Chiu Kuo-chiang and Ted Chen)


Updated : 2021-09-21 20:31 GMT+08:00