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Ex-Eastern Multimedia Group president Gary Wang sentenced 18 years in Rebar scam case

A file photo of former Eastern Multimedia Group president Gary Wang. (file photo) Wang was sentenced for 18 years and a fine of NT$700 million on Dec....

A file photo of former Eastern Multimedia Group president Gary Wang. (file photo) Wang was sentenced for 18 years and a fine of NT$700 million on Dec....

TAIPEI (Taiwan News) – Former Eastern Multimedia Group president Gary Wang (王令麟) was sentenced for 18 years and a fine of NT$700 million by the Taipei District Court Wednesday for beach of trust, violation of bank transaction and the Securities Act in the Rebar scam case.

Wang’s siblings and other family members were also convicted with severe sentences: former Asia Pacific Broadband Telecom Vice President Wang Ling-tai (王令台) 20 years and an additional NT$700 million; Chia Hsin Food Co. ex-vice president Wang Ling-I (王令一) 20 years and a fine of NT$1 billion; Frank Wang (王事展), general manager of the Union Insurance Company, given 16 years of sentence and NT$4 billion fine; Rebar Group Chairwoman and General Manager Wang Ling-mei (王令楣) 18 years and a NT$150 million fine; Chinese Bank’s former vice general manager Wang Ling-chiao (王令僑) 13 years and NT$300 million.

The Rebar Group embezzlement erupted in early 2007 as companies affiliated to Rebar Group such as China Rebar, Chia Hsin Food and Fiber Synthetic Co., Chinese Bank, encountered financial troubles. The founder Wang You-tseng (王又曾) was suspected of hollowing out corporate property along with his family and fled to the United States with his fourth wife Wang Chin Shih-ying (王金世英), leaving his children behind in Taiwan. His sons, daughters, other family members who altogether run the Group had been interrogated and held into custody one by one. The total number of defendants reaches 139 and the amount of illegal profit over NT$1 trillion, making judicial history.

Other records include that 4,000 personnel were launched for searches and questioning; over 1,000 were under interrogation. Gary Wang also set the record of the highest bail of NT$350 million. When the trial begins, the court had to use an assembly hall for the whole family and 100-plus defendants, also making a spectacular view.

by Taiwan News, Website Editorial Staff


Updated : 2021-04-10 21:55 GMT+08:00