Taiwan's judicial authorities are in contact with their U.S. counterparts over the investigation into the scandal-ridden Rebar Asia Pacific Group. David Wang, Ministry of Foreign Affairs (MOFA) spokesman, said at a regular news conference that the U.S. judicial authorities have been asked in accordance with a Taiwan-U.S. judicial assistance accord signed in March 2002 by the Ministry of Justice for assistance with a probe into the financial status and personal assets in the United States of Rebar Group founder Wang You-theng and his fourth wife, Chin Shih-ying. Wang and Chin are at the center of a snowballing financial scandal and are believed to have stolen billions of dollars in corporate funds before going on the lam. They have been placed on Taiwan's most-wanted list and stand accused of embezzlement, insider trading, fraud and breach of trust.
Wang and Chin fled Taiwan to China December 30, one day after two Rebar subsidiary companies applied for insolvency protection, which in turn triggered a run on the Chinese Bank, another Rebar affiliate corporation, the following day.
After the Wangs reportedly flew to San Francisco Jan. 13, the Taipei Prosecutor's Office issued wanted notices for the couple Jan. 15 that will remain valid for 25 years, followed by a MOFA move that invalidated their Republic of China passports.
The spokesman said that since 2002, Taiwan has asked the United States to assist in 24 cases, 16 of which have been completed, while the United States has requested Taiwan's assistance in helping with 15 cases, nine of which have been successfully tackled. (Source: The China Post, Jan 19, 2007).