Hong Kong businessman goes missing

Hong Kong businessman goes missing

TAIPEI (Taiwan News) – Wong Yuk Kwan, a Hong Kong businessman who sought medical treatment in Taiwan after becoming the target of an investigation into potentially illegal share transactions, has been missing for three days, reports said Wednesday.
The chairman of Pearl Oriental Corporation, who is also known as Wong Kwan, obtained medical parole in Hong Kong to seek treatment in Taipei, but was reported as abducted from near his residence on September 20, media reports said.
As he left his place of residence in Taipei that day, witnesses reportedly saw two men forcing him into a car. His relatives were unable to contact him and alerted police to his disappearance. Investigators reportedly had a look at surveillance camera footage in an effort to locate him.
Wong, 68, reportedly made his way up from a menial job at a restaurant to the status of billionaire.
In 2013, he was released on bail of HK$5 million (NT$21 million) in an investigation into alleged illegal share trading practices.
Wong and a partner invested in a gas and oilfield in the state of Utah in 2009, but went on to sell their interests one year later to Pearl Oriental Oil Ltd. The move would have led Wong and his partner to make a general offer to buy all the company shares. In order to evade the requirement, Wong reportedly sold his entire stake in the oil company to three apparently independent third parties, but they were later found as being closely linked to the businessman and of not having paid him for the shares.
After being indicted, he received bail and was allowed to leave Hong Kong for Taiwan last April.

Updated : 2021-01-26 09:49 GMT+08:00