Sources: All Taipei Newspapers

 

August 15, 2013

 

 

Wang You-theng (王又曾) and his sons were convicted of embezzling NT$ 32 billion (US$ 1 billion) from the Rebar Asia Pacific Group, along with other charges, and sentenced to between 5.6 and 30 years in prison among them.  The Supreme Court yesterday rejected, in part, the appeal against the ruling of the Taiwan Provincial High Court, so the tycoon’s sons will have to serve their prison terms as the verdicts are final.  Gary Wang (王令麟), Eastern Media International Corp. chairman, was sentenced to five years and six months in prison on four counts of violating the Securities and Exchange Act (證券交易法); Wang Lin-i (王令一) was sentenced to thirty years in prison; Wang Lin-chiao (王令僑) to twenty-three years and six months; Wang Lin-tai (王令台) to six years and eight months; and Wang Lin-mei (王令楣) to five years and six months.  Their actual prison terms will be determined by the Taiwan Provincial High Court.  

 

Huang Mou-hsin (黃謀信), Chief Prosecutor of the Taipei District Prosecutors Office, stated that they would immediately request that the court bar them from leaving the country and restrict their residence in order to ensure that they serve their prison terms.  The prosecutors also pointed out that if Gary Wang reported to jail as the court ordered, the court would return his bail money.  

 

Eastern Media International Corp. issued a statement last night, stressing that they deeply regretted the ruling, and Chairman Wang would not rule out the possibility of filing an extraordinary appeal to the Supreme Court for a retrial.  Wang You-theng fled Taiwan in 2006 and is hiding in the US.  The elder Wang, now 86, is listed as one of Taiwan’s most wanted economic criminals.