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May 30, 2017

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Taiwan reclaims US$2.2 mil. more from PNG fraud scandal: MOFA

By Joseph Yeh--Taiwan has successfully recovered US$2.2 million more from the funds allegedly embezzled by two diplomatic middlemen during a scam in 2006, the Ministry of Foreign Affairs (MOFA) announced yesterday.

So far, the Taiwanese government has succeeded in recovering US$15.1 million, or around half of the funds allegedly embezzled by the two suspected fraudsters Wu Shih-tsai (吳思材) and Ching Chi-ju (金紀玖), the MOFA said in a released statement, adding that it will continue its effort to reclaim all of the money.

In 2006, Ching was appointed a special broker of the Taiwan, whose mission was to use the nearly US$30 million he had been given by the government to help Taiwan establish diplomatic ties with Papua New Guinea (PNG).

Instead of using the funds for their intended purpose, however, Ching, along with his accomplice Wu, transferred the funds into a personal account in Singapore.

The local government later filed a legal suit in Singapore in order to reclaim the funds.

On May 10, 2010, the High Court of Singapore ruled that Ching and Wu had to return the embezzled money to Taiwan.

Ching, who holds a U.S. passport, is reportedly living in the United States, while Wu is serving a 28-month sentence in Taiwan for forging documents, fraud, and other crimes.

1 Comment
March 22, 2012    kingsolomon@
Under whose administration was this scam committed, and under whose orders? Higher ups should be held accountable too and not just the small fries.
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