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EMG's Wang ordered detained
REVERSAL:
Taipei prosecutors succesfully lodged an appeal yesterday with the Taiwan High Court asking that it order a district court to reconsider a bail decision
By Rich Chang
STAFF REPORTER, WITH CNA
Monday, Jun 18, 2007, Page 1
The Taipei District Court last night approved a request by prosecutors for the detention of Eastern Multimedia Group (EMG, 東森多媒體) chairman Gary Wang (王令麟), reversing its own ruling issued the previous day, which set Wang free on NT$100 million (US$3 million) bail.
The bail -- the second-highest in the nation's judicial history -- will be returned now that he has been detained.
Taipei prosecutors had lodged an appeal yesterday with the Taiwan High Court, asking it to reverse the decision, and yesterday morning it ruled that the district court must reconsider the bail decision.
serious
The high court said in a ruling that because of the serious nature of the criminal investigations involving Wang and because Wang may have the opportunity to conspire with other defendants, the district court must re-hear the case.
Wang left court on Saturday afternoon after his company had spent nine hours collecting the bail money.
He returned to court yesterday afternoon as result of the Taipei prosecutors's appeal.
He has been prohibited from leaving the country.
Prosecutors began questioning Wang and some of his associates on Thursday in relation to four cases after a series of raids on EMG offices and properties belonging to Wang.
allegations
The first case concerns allegations that he illegally sold the group's stock at an abnormally low price.
The second alleges he stole NT$27.2 billion from Asia Pacific Broadband Telecom Co (亞太固網), a local fixed-line operator and a subsidiary of EMG.
In the third case, prosecutors allege that Wang tried to avoid paying taxes by selling one of the group's properties to Union Insurance Co (友聯產險) and subsequently renting the property.
Prosecutors also suspect that he may have bribed Taipei City Government officials to win the contract to operate the Taipei Arena for nine years.
Wang is the son of Wang You-theng (王又曾), the fugitive Rebar founder who has been indicted along with 106 others for their alleged involvement in one of the country's biggest-ever financial scandals.
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