AP, WELLINGTON
A former pharmaceutical executive whom Chinese authorities accuse of embezzling money and fleeing to New Zealand has settled his case for US$31 million, New Zealand police said yesterday, in a deal that represents an unusual level of cooperation between the two countries.
William Yan (閻永明), a New Zealand citizen, settled without acknowledging any criminal or civil liability, the police said in a statement.
Police had previously seized homes, luxury cars, including a Porsche and a Maserati, and stocks from the 47-year-old Yan, his wife and two associates, the statement said.
Police said they would release those items once Yan and the others handed over NZ$43 million (US$31.47 million).
Police said the money would then be split between the New Zealand and Chinese governments, with the amount each would get still to be determined.
New Zealand authorities refused to answer further questions about the case, including whether China would attempt to extradite Yan.
China’s embassy in Wellington did not immediately respond to questions.
The settlement is the largest of its kind ever made in New Zealand, and the first for crimes alleged to have occurred in China.
Critics say it raises questions about why Yan is not facing charges and how much New Zealand is acquiescing to Beijing’s demands.
China represents a crucial market for New Zealand’s agricultural exports, which include kiwifruit and dairy products.
One of Yan’s Auckland-based lawyers, Simon Lance, said in an e-mail that his client “does not accept that he is guilty of embezzling money in China.”
Another one of the lawyers, Marc Corlett, said in a statement that the settlement was a “commercial compromise” that would allow Yan to recover his seized assets and “return his focus to his business activities in New Zealand and elsewhere.”
New Zealand Prime Minister John Key said the police handle investigations independently and it is up to them to determine whether it is better to settle a case or pursue charges.
However, opposition lawmaker Winston Peters said the way the case was handled was demeaning for New Zealand.
“You know, we’re dancing on a pinhead for China in so many areas,” he said.
As part of an operation it calls Sky Net, China last year issued a list of its 100 most-wanted economic fugitives, who it accuses of absconding overseas with ill-gotten gains.
Under the name Yan Yongming, Yan made the list at No. 5.
The listing said Yan is wanted by police in the northeast Chinese city of Tonghua, where he last worked as chairman of a pharmaceutical company, the Tonghua Golden Horse Group (通化金馬藥業集團). It lists three different passport numbers and three national identification numbers for Yan, who it also lists under the name Liu Yangming.
China said between 11 and 20 of the alleged economic fugitives have fled to New Zealand, making it the third-most popular destination behind the US and Canada.
The domestically designed Teng Yun 2 drone passed development milestones over the weekend, flying for more than 10 hours straight and circling Taiwan’s air defense identification zone (ADIZ), in the longest flight of an indigenous uncrewed combat aerial vehicle. Developed by the Chungshan Institute of Science and Technology, the Teng Yun 2, or “Cloud Rider” (騰雲二型), recorded its longest flight yet over the weekend, after a three-hour test flight last month, followed by five and seven-hour stretches in the air. The Teng Yun 2 No. 1812 departed from Chiashan Air Base in Hualien County at 6:46pm on Saturday and flew on a
A slew of new measures are to take effect on Friday, including nationwide bring-your-own-cup discounts. The new rule requires chain beverage shops to offer discounts of at least NT$5 (US$0.17) to customers who bring their own cups, the Environmental Protection Agency (EPA) has said. The policy would apply to more than 50,000 chain retail locations, including beverage shops, convenience stores, fast-food restaurants and supermarkets. It aims to cut down on waste from single-use plastic cups, more than 2.2 billion of which were used in Taiwan in 2020, the agency said. For convenience, the EPA said it has asked retailers to display signs stating how
TIMING: 'The CHIPS Act funding is crucial for us. In other words, if the act’s passage is delayed for too long, we will certainly need to adjust,’ chairwoman Doris Hsu said GlobalWafers Co (環球晶圓) plans to start construction on a US$5 billion wafer fabrication facility in Texas in November, after passage of the US$52 billion Creating Helpful Incentives to Produce Semiconductors (CHIPS) for America Act. The fab would be the largest of its kind in the US and one of the largest in the world, with a monthly capacity of 1.2 million wafers, GlobalWafers said, adding that the investment would be the first new fab in the US in more than 20 years and critical to closing a semiconductor supply chain gap. The world’s No. 3 silicon wafer supplier said the project, which
COUNTERING CHINA: ‘When democracies demonstrate what we can do ... I have no doubt that we’ll win that competition every time,’ US President Joe Biden said US President Joe Biden rebooted his effort to counter China’s Belt and Road Initiative (BRI) after an earlier campaign faltered, enlisting the support of G7 leaders at their summit in Germany. The Build Back Better World initiative, named after Biden’s domestic spending and climate agenda, struggled to get off the ground because not enough G7 partners contributed financially when it was unveiled a year ago, people familiar with its lack of progress said. “When democracies demonstrate what we can do — all that we have to offer — I have no doubt that we’ll win that competition every time,” Biden said during