One of the nation’s biggest property speculators was detained and held incommunicado yesterday after police hunted him down on charges of tax evasion and document forgery.
Prosecutors said Huang Yung-yi (黃勇義), 48, evaded payment of taxes to the tune of NT$1.15 billion (US$38.33 million) from property transactions, mostly in Da-an District (大安) in eastern Taipei, over the past five years.
They found that Huang had bought and sold 940 residential and commercial properties since 2006, using 38 individuals — mostly from his extended family network — as a front.
Thirteen other people, including Huang’s wife, were also questioned on Wednesday as witnesses or accomplices.
If convicted for violating the Tax Collection Act (稅捐稽徵法) , the Business Entity Accounting Act ( 商業會計法) and the Criminal Code, Huang is expected to have to pay NT$3.9 billion in overdue taxes and fines.
He also risks a jail term of up to five years.
Huang’s arrest comes as a shot in the arm amid the ongoing outcry for “housing justice.”
Ordinary homebuyers and experts have long called for transparency in home transaction prices and a fair property transaction tax to help curb property speculation.