Investigators have seized more useful data in their second search of troubled Rebar Asia Pacific Group's (力霸亞太企業集團) headquarters in connection with a probe into the group's suspected involvement in insider trading, prosecution officials said yesterday.
A team headed by Prosecutor Chang Shu-hua (張書華) searched 17 locations, including the Rebar Group headquarters and the homes of the group's board members on Friday, focusing on accounting and transaction records related to suspected insider trading of shares of two ailing Rebar affiliates -- China Rebar Co (中國力霸) and Chia Hsin Food and Synthetic Fiber Co (嘉新食品化纖).
Lin Jinn-tsun (
"The impounded items include computer discs, private notebooks, accounting books and transaction records that will be very helpful with the investigation into the Rebar Group's suspected illegal commercial dealings," Lin said.
The search followed Thursday's raids at more than 30 locations, including China Rebar chairwoman Wang Chin She-ying's (王金世英) office at the Guangfu branch of another of the group's subsidiaries -- The Chinese Bank (中華銀行).
Investigators seized accounting books and notebooks they said contain new evidence linked to insider trading of shares of more than four of the group's firms, Lin said.
"Friday's search has spurred investigators into believing that the group's founder, Wang You-theng (王又曾), had long been deliberating hollowing out the corporate assets," Lin said, adding that Wang had regularly met with the group's six top financial executives to discuss how to embezzle various Rebar affiliates' funds through crossholdings and insider trading.
Judicial probes were launched after China Rebar and Chia Hsin announced on Jan. 4 that they had filed for insolvency protection on Dec. 29, triggering a run on The Chinese Bank the following day.
The investigations initially focused on suspected irregularities at five Rebar subsidiaries -- the Great Chinese Bills Finance Corp's (
As of Friday, two Union Insurance executives -- vice chairman Wang Lin-i (王令一) and president Frank Wang (王事展) -- had been taken into custody pending further investigations, while Chin Shui-ho (金水和), Union Insurance chairman and father of Wang Chin Shyh-ying, had been released on NT$200,000 bail.
After examining the accounting records found during the search, prosecutors said they suspected Eastern Multimedia (
Wang You-theng fled to China on Dec. 30 and his wife, Wang Chin Shih-ying, followed on Jan. 1, only a few days before prosecutors prohibited scores of their family members and Rebar executives from leaving the country.
Eight Chinese naval vessels and 24 military aircraft were detected crossing the median line of the Taiwan Strait between 6am yesterday and 6am today, the Ministry of National Defense said this morning. The aircraft entered Taiwan’s northern, central, southwestern and eastern air defense identification zones, the ministry said. The armed forces responded with mission aircraft, naval vessels and shore-based missile systems to closely monitor the situation, it added. Eight naval vessels, one official ship and 36 aircraft sorties were spotted in total, the ministry said.
INCREASED CAPACITY: The flights on Mondays, Wednesdays, Fridays and Sundays would leave Singapore in the morning and Taipei in the afternoon Singapore Airlines is adding four supplementary flights to Taipei per week until May to meet increased tourist and business travel demand, the carrier said on Friday. The addition would raise the number of weekly flights it operates to Taipei to 18, Singapore Airlines Taiwan general manager Timothy Ouyang (歐陽漢源) said. The airline has recorded a steady rise in tourist and business travel to and from Taipei, and aims to provide more flexible travel arrangements for passengers, said Ouyang, who assumed the post in July last year. From now until Saturday next week, four additional flights would depart from Singapore on Monday, Wednesday, Friday
The Ministry of National Defense yesterday reported the return of large-scale Chinese air force activities after their unexplained absence for more than two weeks, which had prompted speculation regarding Beijing’s motives. China usually sends fighter jets, drones and other military aircraft around the nation on a daily basis. Interruptions to such routine are generally caused by bad weather. The Ministry of National Defense said it had detected 26 Chinese military aircraft in the Taiwan Strait over the previous 24 hours. It last reported that many aircraft on Feb. 25, when it spotted 30 aircraft, saying Beijing was carrying out another “joint combat
Taiwan successfully defended its women’s 540 kilogram title and won its first-ever men’s 640 kg title at the 2026 World Indoor Tug of War Championships in Taipei yesterday. In the women’s event, Taiwan’s eight-person squad reached the final following a round-robin preliminary round and semifinals featuring teams from Ukraine, Japan, Thailand, Vietnam, the Basque Country and South Korea. In the finals, they swept the Basque team 2-0, giving the team composed mainly of National Taiwan Normal University students and graduates its second championship in a row, and its fourth in five years. Team captain
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