Alexa
  • Directory of Taiwan

Another Wang member questioned for financial scandal

Another Wang member questioned for financial scandal

Investigators are still questioning Acting Asia Pacific Broadband Telecom Chairperson Wang Ling-mei and three company accountants in connection to the probe over the financial woes of affiliated China Rebar Co. and Chia Hsin Food and Synthetic Fiber Co.
Wang, daughter of Rebar Asia Pacific Group founder Wang You-theng, was named APBT acting chairperson Thursday after his brother Wang Ling-tai was taken into custody days earlier for allegedly transferring company funds into the accounts of family members.
APBT, China Rebar and Chia Hsin are all subsidiaries of the Rebar group. As of press time, investigators have yet to tell why they are questing Wang Ling-mei, also general manager of Idee Department Store.
Her father and stepmother Wang Chin Shyh-ying fled Taiwan days after China Rebar and Chia Hsin filed insolvency protection requests December 29.
The ongoing investigation has led judicial authorities to detain three Wang family members and impose travel restrictions on over 80 others.
Besides Wang Ling-tai, Union Insurance Co. Vice Chairman Wang Ling-yi and President Wang Shih-chan have also been taken into custody on breach of trust and other financial fraud charges.
Union is also suspected of financial irregularities that are plaguing two other Rebar subsidiaries the Chinese Bank and the great Chinese Bills Finance Corp.


Updated : 2021-05-12 10:49 GMT+08:00