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Money laundering couple uses Filipina to hide assests

Money laundering couple uses Filipina to hide assests

A Filipina amah who once worked for a Taiwanese couple was recently found to have possessed a piece of property in Canada worth more than NT$70 million, but she was only being used by the couple to illegally hide their assets.
The amah, identified only as Susana, may be the richest Filipina amah after law enforcement authorities found a high-priced mansion registered under her name in Canada.
Susana was employed by Huang Kuan-hsien, and Huang's wife, Huang Kui-chen, who set up a private loan company in Taiwan in 1997 to borrow money from their acquaintances with promises of repayment at attractively high interest rates ranging from 15 percent to 30 percent.
The couple used borrowed money pay for interest derived from their earlier loans. It was not until May of last year that the couple began to have problems raising enough money to pay their interest.
Some victims reported the activity to the Ministry of Justice's Investigation Bureau in May of this year demanding a probe into the couple's financial conditions, as well as requesting a court order to restrict the couple from fleeing Taiwan.
It was then that MJIB agents discovered Huang's wife and children, as well as Susana, had fled to Canada and settled there as permanent residents.
The prosecutor took Huang into custody after questioning him in September. On November 8, Huang was indicted on charges of fraud and money laundering.
The Taipei District Court held a hearing on the case yesterday afternoon. While negotiating with his debtors, Huang refused to sell his property in order to clear his debts.
According to a preliminary investigation, Huang's wife and children reside in a house worth NT$150 million purchased by Huang. Another house, also purchased by Huang, was registered under the name of the Filipina amah.
The prosecutor found more than 100 victims who taken by the couple's scam. Of those victims, most were well educated, including bank executives, teachers, and lawyers who met Huang's wife while she worked as an insurance saleswoman.
Reportedly, Huang's wife also cheated oversees Chinese residents in Canada out of over NT$200 million during her stay there. Those victims have also filed both criminal and civil lawsuits against Huang.