Source: China Times

3 October, 2017 

 

The statute of limitations on the Lee and Li Attorneys-at-Law embezzlement case – once the talk of the town – has expired. Eddie Liu (劉偉杰), an employee of the law firm, had embezzled NT$3 billion (approx. US$100 million) from the firm 14 years ago, and had since then virtually vanished into thin air as all effort to find him by the prosecutors, the triad groups and the Mainland authorities all came to no avail. As the statute of limitations for the case has expired, the Taipei District Prosecutors Office decided not to indict Liu in accordance with the law.

 

Investigations revealed that from 6th August to 15th September 2003, the 54-year-old Liu had sold but misappropriated the proceeds of United Microelectronics Corporation (聯電) shares owned by US company Sandisk, which had entrusted the shares to the law firm for disposal. The proceeds amounted to NT$3 billion (approx. US$100 million). Liu then transferred the money to Hong Kong in the form of euros, which he laundered by purchasing diamonds.

 

As the amount which Liu embezzled was a significantly large sum, the Lee and Li Attorneys-at-Law offered an ‘international reward’ in hopes of any leads that would lead to Liu’s arrest – if Liu was caught and the embezzled sum was recovered, half of the NT$3 billion would be offered as reward. This set the record for the highest sum of reward in Taiwan’s criminal history. When the case was first reported, sources indicated that triad groups as well as the Mainland authorities had been drawn to the reward and made an effort to find Liu, but as time passed, it seemed as though Liu had vanished into thin air. The Taipei District Prosecutors Office decided not to indict Liu on 2nd October. The statute of limitations for such cases expires at the end of 12.5 years. For Liu’s case, taking into account the investigation period, the statute of limitations expires on 8th August this year.