Wang You-theng
Encyclopedia
Wang You-theng is a Taiwanese
entrepreneur
who founded the China Rebar Group and served as its chairman until fleeing Taiwan
in late 2006 amid allegations of embezzlement
and fraud
.
. In the following years, Rebar expanded its operations from the construction industry into textiles, hotels, real estate, retail services, insurance, banking, and telecommunications. As the head of a growing business empire, Wang enjoyed a large personal fortune and increasing political clout. Several of Wang's children and relatives served as high ranking officers in Rebar's subsidiary companies. As a tycoon, Wang maintained a close business relationship with government authorities over several administrations, serving as a member of the Central Standing Committee of the Kuomintang
for 15 years and being appointed as a National Policy Advisor to President Chen Shui-bian
in 2000 when the Democratic Progressive Party
won the ROC Presidential election that year.
of their insolvency claims as required by regulations until 4 January 2007. During this week, several high ranking officers in Rebar, including Wang were alleged to have engaged in insider trading
and embezzlement. Wang and his wife fled Taiwan for Hong Kong
on 30 December, days before prosecutors began to launch an investigation into allegations of Rebar financial impropriety.
In the weeks following the break of the scandal, Wang and his wife moved to Shanghai
. Public opinion in Taiwan was inflamed by reports of Wang's extravagant tastes and high living, as well as news that he had engaged in money laundering
and discreetly transferred several assets abroad in prior years, suggesting that he had been planning his escape for some time. Despite several official attempts through the ROC's Mainland Affairs Council
and other unofficial attempts, efforts to have the People's Republic of China
return Wang back to Taiwan proved unsuccessful.
On 13 January, Wang and his wife left the PRC for the United States
arriving at Los Angeles
with Wang using his ROC passport with a B1 visa, and his wife entering using her US passport. Two days later, the Taipei Prosecutor's Office declared Wang a wanted fugitive, and his ROC passport was revoked by the Ministry of Foreign Affairs (MOFA). MOFA also contacted the US Department of Justice (DOJ) requesting assistance in having Wang extradited
back to Taiwan. However, this proved to be difficult as the ROC's diplomatic isolation
ment that it had few standing extradition agreements with other states, though US authorities did have an information sharing system in place which was used to coordinate efforts between the two sides.
On 31 January, the DOJ contacted Taipei Economic and Cultural Representative Office
(TECRO) representatives in the US with information that Wang and his wife had left Los Angeles aboard Singapore Airlines
Flight 27, with tickets for Myanmar
with a stopover in Singapore
. Wang was reportedly becoming nervous as US authorities were beginning to probe possible illegal transactions at the Rebar subsidiary OmniBank, based in the US. At this point, Wang was traveling on a Dominica
n passport, his ROC passport having been revoked in mid-January. Officials in Taipei immediately contacted Dominica and had Wang's Dominican passport revoked, effectively rendering him stateless. MOFA officials also contacted the Singapore government, requesting that Wang be extradited back to Taiwan, though again, the ROC and Singapore had no standing extradition agreement. Several agents from the Ministry of Justice Bureau of Investigation (BOI) were also dispatched to Singapore to intercept him at Singapore Changi Airport
.
Arriving at Changi Airport the morning of 2 February, the couple were met at the gate by armed guards and denied entrance to Singapore. Singapore authorities and the BOI agents attempted to persuade the couple to board a Taiwan-bound flight. The couple refused and according to media reports, began sobbing and squatting on the floor, refusing to move. Due to the lack of an extradition agreement, neither the BOI agents or Singapore police were able to make an arrest. Attempts were made to place Wang on Singapore Airlines Flight 872, a return flight to the US with a transit at Taiwan Taoyuan International Airport, where he would be able to be detained upon entrance into the airport terminal. However upon learning of this, Wang and his wife still refused to board and as a result, delayed that flight for over three hours. After several more hours of screaming, crying, and yelling, the couple were permitted to return to the US via a direct flight.
Upon arriving back at Los Angeles International Airport
, Wang was detained by U.S. Immigration and Customs Enforcement
for attempting to enter the US without valid documentation, and was placed in the San Pedro Service Processing Center. You-theng is detained in the US, and is wanted by Taiwanese prosecutors for allegedly embezzling NT$60 billion (US$1.8 billion) in corporate funds.
Taiwanese people
Taiwanese people may refer to individuals who either claim or are imputed cultural identity focused on the island of Taiwan and/or Taiwan Area which have been governed by the Republic of China since 1945...
entrepreneur
Entrepreneur
An entrepreneur is an owner or manager of a business enterprise who makes money through risk and initiative.The term was originally a loanword from French and was first defined by the Irish-French economist Richard Cantillon. Entrepreneur in English is a term applied to a person who is willing to...
who founded the China Rebar Group and served as its chairman until fleeing Taiwan
Taiwan
Taiwan , also known, especially in the past, as Formosa , is the largest island of the same-named island group of East Asia in the western Pacific Ocean and located off the southeastern coast of mainland China. The island forms over 99% of the current territory of the Republic of China following...
in late 2006 amid allegations of embezzlement
Embezzlement
Embezzlement is the act of dishonestly appropriating or secreting assets by one or more individuals to whom such assets have been entrusted....
and fraud
Fraud
In criminal law, a fraud is an intentional deception made for personal gain or to damage another individual; the related adjective is fraudulent. The specific legal definition varies by legal jurisdiction. Fraud is a crime, and also a civil law violation...
.
Business career
Wang established the China Rebar Group in 1959 as a manufacturer of steel reinforcement beamsRebar
A rebar , also known as reinforcing steel, reinforcement steel, rerod, or a deformed bar, is a common steel bar, and is commonly used as a tensioning device in reinforced concrete and reinforced masonry structures holding the concrete in compression...
. In the following years, Rebar expanded its operations from the construction industry into textiles, hotels, real estate, retail services, insurance, banking, and telecommunications. As the head of a growing business empire, Wang enjoyed a large personal fortune and increasing political clout. Several of Wang's children and relatives served as high ranking officers in Rebar's subsidiary companies. As a tycoon, Wang maintained a close business relationship with government authorities over several administrations, serving as a member of the Central Standing Committee of the Kuomintang
Kuomintang
The Kuomintang of China , sometimes romanized as Guomindang via the Pinyin transcription system or GMD for short, and translated as the Chinese Nationalist Party is a founding and ruling political party of the Republic of China . Its guiding ideology is the Three Principles of the People, espoused...
for 15 years and being appointed as a National Policy Advisor to President Chen Shui-bian
Chen Shui-bian
Chen Shui-bian is a former Taiwanese politician who was the 10th and 11th-term President of the Republic of China from 2000 to 2008. Chen, whose Democratic Progressive Party has traditionally been supportive of Taiwan independence, ended more than fifty years of Kuomintang rule in Taiwan...
in 2000 when the Democratic Progressive Party
Democratic Progressive Party
The Democratic Progressive Party is a political party in Taiwan, and the dominant party in the Pan-Green Coalition. Founded in 1986, DPP is the first meaningful opposition party in Taiwan. It has traditionally been associated with strong advocacy of human rights and a distinct Taiwanese identity,...
won the ROC Presidential election that year.
Rebar scandal and flight
By 2006, Rebar was encountering serious difficulties following years of allegedly hiding financial problems with bad loans from The Chinese Bank (a subsidiary) and falsified accounting records. On 29 December 2006, Rebar Asia-Pacific Group, along with three subsidiaries filed for bankruptcy protection, but did not notify the Taiwan Stock ExchangeTaiwan Stock Exchange
The Taiwan Stock Exchange Corporation is a financial institution, located in Taipei 101, in Taipei, Taiwan. The TSEC was established in 1961 and began operating as a stock exchange on 9 February 1962...
of their insolvency claims as required by regulations until 4 January 2007. During this week, several high ranking officers in Rebar, including Wang were alleged to have engaged in insider trading
Insider trading
Insider trading is the trading of a corporation's stock or other securities by individuals with potential access to non-public information about the company...
and embezzlement. Wang and his wife fled Taiwan for Hong Kong
Hong Kong
Hong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...
on 30 December, days before prosecutors began to launch an investigation into allegations of Rebar financial impropriety.
In the weeks following the break of the scandal, Wang and his wife moved to Shanghai
Shanghai
Shanghai is the largest city by population in China and the largest city proper in the world. It is one of the four province-level municipalities in the People's Republic of China, with a total population of over 23 million as of 2010...
. Public opinion in Taiwan was inflamed by reports of Wang's extravagant tastes and high living, as well as news that he had engaged in money laundering
Money laundering
Money laundering is the process of disguising illegal sources of money so that it looks like it came from legal sources. The methods by which money may be laundered are varied and can range in sophistication. Many regulatory and governmental authorities quote estimates each year for the amount...
and discreetly transferred several assets abroad in prior years, suggesting that he had been planning his escape for some time. Despite several official attempts through the ROC's Mainland Affairs Council
Mainland Affairs Council
The Mainland Affairs Council is a cabinet-level administrative agency under the Executive Yuan of the Republic of China. The MAC is responsible for the planning, development, and implementation of policies between the Free Area of the Republic of China, commonly known as Taiwan, and the People's...
and other unofficial attempts, efforts to have the People's Republic of China
People's Republic of China
China , officially the People's Republic of China , is the most populous country in the world, with over 1.3 billion citizens. Located in East Asia, the country covers approximately 9.6 million square kilometres...
return Wang back to Taiwan proved unsuccessful.
On 13 January, Wang and his wife left the PRC for the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
arriving at Los Angeles
Los Ángeles
Los Ángeles is the capital of the province of Biobío, in the commune of the same name, in Region VIII , in the center-south of Chile. It is located between the Laja and Biobío rivers. The population is 123,445 inhabitants...
with Wang using his ROC passport with a B1 visa, and his wife entering using her US passport. Two days later, the Taipei Prosecutor's Office declared Wang a wanted fugitive, and his ROC passport was revoked by the Ministry of Foreign Affairs (MOFA). MOFA also contacted the US Department of Justice (DOJ) requesting assistance in having Wang extradited
Extradition
Extradition is the official process whereby one nation or state surrenders a suspected or convicted criminal to another nation or state. Between nation states, extradition is regulated by treaties...
back to Taiwan. However, this proved to be difficult as the ROC's diplomatic isolation
Political status of Taiwan
The controversy regarding the political status of Taiwan hinges on whether Taiwan, Penghu, Kinmen, and Matsu should remain effectively independent as territory of the Republic of China , become unified with the territories now governed by the People's Republic of China , or formally declare...
ment that it had few standing extradition agreements with other states, though US authorities did have an information sharing system in place which was used to coordinate efforts between the two sides.
On 31 January, the DOJ contacted Taipei Economic and Cultural Representative Office
Taipei Economic and Cultural Representative Office
A Taipei Economic and Cultural Representative Office , sometimes known as a Taipei Economic and Cultural Office or a Taipei Representative Office , is a representative office, established by the Republic of China in countries that have diplomatic relations with the People's Republic of China...
(TECRO) representatives in the US with information that Wang and his wife had left Los Angeles aboard Singapore Airlines
Singapore Airlines
Singapore Airlines Limited is the flag carrier airline of Singapore. Singapore Airlines operates a hub at Changi Airport and has a strong presence in the Southeast Asia, East Asia, South Asia, and "Kangaroo Route" markets...
Flight 27, with tickets for Myanmar
Myanmar
Burma , officially the Republic of the Union of Myanmar , is a country in Southeast Asia. Burma is bordered by China on the northeast, Laos on the east, Thailand on the southeast, Bangladesh on the west, India on the northwest, the Bay of Bengal to the southwest, and the Andaman Sea on the south....
with a stopover in Singapore
Singapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
. Wang was reportedly becoming nervous as US authorities were beginning to probe possible illegal transactions at the Rebar subsidiary OmniBank, based in the US. At this point, Wang was traveling on a Dominica
Dominica
Dominica , officially the Commonwealth of Dominica, is an island nation in the Lesser Antilles region of the Caribbean Sea, south-southeast of Guadeloupe and northwest of Martinique. Its size is and the highest point in the country is Morne Diablotins, which has an elevation of . The Commonwealth...
n passport, his ROC passport having been revoked in mid-January. Officials in Taipei immediately contacted Dominica and had Wang's Dominican passport revoked, effectively rendering him stateless. MOFA officials also contacted the Singapore government, requesting that Wang be extradited back to Taiwan, though again, the ROC and Singapore had no standing extradition agreement. Several agents from the Ministry of Justice Bureau of Investigation (BOI) were also dispatched to Singapore to intercept him at Singapore Changi Airport
Singapore Changi Airport
Singapore Changi Airport , Changi International Airport, or simply Changi Airport, is the main airport in Singapore. A major aviation hub in Southeast Asia, it is about north-east from the commercial centre in Changi, on a site....
.
Arriving at Changi Airport the morning of 2 February, the couple were met at the gate by armed guards and denied entrance to Singapore. Singapore authorities and the BOI agents attempted to persuade the couple to board a Taiwan-bound flight. The couple refused and according to media reports, began sobbing and squatting on the floor, refusing to move. Due to the lack of an extradition agreement, neither the BOI agents or Singapore police were able to make an arrest. Attempts were made to place Wang on Singapore Airlines Flight 872, a return flight to the US with a transit at Taiwan Taoyuan International Airport, where he would be able to be detained upon entrance into the airport terminal. However upon learning of this, Wang and his wife still refused to board and as a result, delayed that flight for over three hours. After several more hours of screaming, crying, and yelling, the couple were permitted to return to the US via a direct flight.
Upon arriving back at Los Angeles International Airport
Los Angeles International Airport
Los Angeles International Airport is the primary airport serving the Greater Los Angeles Area, the second-most populated metropolitan area in the United States. It is most often referred to by its IATA airport code LAX, with the letters pronounced individually...
, Wang was detained by U.S. Immigration and Customs Enforcement
U.S. Immigration and Customs Enforcement
U.S. Immigration and Customs Enforcement is a federal law enforcement agency under the United States Department of Homeland Security , responsible for identifying, investigating, and dismantling vulnerabilities regarding the nation's border, economic, transportation, and infrastructure security...
for attempting to enter the US without valid documentation, and was placed in the San Pedro Service Processing Center. You-theng is detained in the US, and is wanted by Taiwanese prosecutors for allegedly embezzling NT$60 billion (US$1.8 billion) in corporate funds.
Children
Wang has four wives, six sons, and two daughters.- With his first wife
- Wang Lin-tai (王令台)
- Wang Lin-fu (王令甫)
- With his second wife Chen Pei-fang (陳佩芳)
- Wang Lin-i (王令一)
- Gary Wang (王令麟)
- With his third wife
- Wang Lin-mei (王令楣)
- Wang Lin-ke (王令可)
- With his fourth wife Chin Shyh-ying (金世英)
- Wang Lin-chiao (王令僑)
- Wang Lin-hsing (王令興)