• Directory of Taiwan

Philippines extradites suspect in Taiwanese financial scandal

Woman first fled to China before obtaining investor visa in Philippines

The Ministry of Justice Investigation Bureau (Wikimedia Commons photo by Bstlee)

The Ministry of Justice Investigation Bureau (Wikimedia Commons photo by Bstlee)

TAIPEI (Taiwan News) — A woman wanted for her alleged involvement in a NT$200 million (US$6.72 million) financial scandal was handed over by the Philippines and put on a flight back to Taiwan Thursday (April 30).

Fears over the Wuhan coronavirus (COVID-19) pandemic motivated Tu Kai-ling (杜凱玲) to agree to return to Taiwan to cooperate with the investigation after spending years in the Southeast Asian country, CNA reported.

From April to November 2016, Tu, in collaboration with her brother and husband, claimed that her brother was the chairman of the rapidly growing DoubleDragon development group, and they formed a subsidiary in Taiwan.

They promised a solid return to investors in a project they presented as “Buffalo Island.” Within a year, they succeeded in attracting NT$200 million worth of investments in violation of Taiwanese banking laws, according to CNA.

While the authorities were still investigating the case, Tu flew to Shanghai on Oct. 26, 2016, but three years later, she moved to the Philippines where she managed to obtain an investment visa.

The Ministry of Justice Investigation Bureau and immigration services of both Taiwan and the Philippines cooperated to monitor Tu’s movements, with Manila putting her on a blacklist and waiting until her visa expired. On Feb. 17, the authorities struck, arresting her. However, her brother is still on the run.

Updated : 2021-09-23 03:47 GMT+08:00