Sun, Sep 10, 2006 - Page 3 News List

Taiwan Quick Take: Retrieval request filed


A Swiss Department of Justice spokesman has confirmed that Taiwan filed a formal application for retrieval of US$520 million in frozen illegal commissions tied to its purchase of six Lafayette-class frigates from France in the early 1990s. The spokesman said that State Public Prosecutor-General Wu Ying-chao (吳英昭) filed the application with the Swiss Department of Justice on Tuesday, demanding the return of the funds from Swiss banks. According to the spokesman, Taiwan specifically demanded the return of US$520 million from a total of US$730 million frozen in the Swiss banks. The sum, which Taiwanese authorities describe as "damages," includes all of the funds in bank accounts belonging to fugitive Taiwanese arms broker Andrew Wang (汪傳浦) and members of his family, as well as US$20 million in bank accounts belonging to Kuo Li-heng (郭力恆), a former Taiwanese naval officer, and his brother.

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