Lawrence Wang (王令興), the youngest son of fugitive Rebar Asia Pacific Group founder Wang You-theng (王又曾), started serving a prison term yesterday, becoming the first Wang family member to serve time in relation to the embezzlement scandal that hit the company in 2007.
Lawrence Wang was given a two-year sentence in a final verdict by the Supreme Court in February. Lawrence Wang’s brother, Wang Lin-ke (王令可), was sentenced to one year in jail with two years probation and a fine of NT$2 million (US$69,000). Lawrence Wang reported to prosecutors in the afternoon to start serving his jail term in Taipei Prison.
The former vice general manger of Chinese Bank (中華商業銀行), Lawrence Wang was found guilty for his involvement in an embezzlement scandal at the bank, which closed in 2008.
The Taiwan High Court in November last year handed down sentences against defendants in the Rebar Asia Pacific Group embezzlement scandal.
Wang You-theng’s oldest son — former Eastern Multimedia Group chairman Gary Wang (王令麟) — was sentenced to five years and eight months.
In the ruling, Gary Wang’s six brothers were also sentenced. Wang You-theng’s younger brother, Frank Wang (王事展), received eight years and six months.
Wang You-theng, his wife Wang Chin She-ying (王金世英) and Gary Wang’s wife, Tsai Hsueh-ching (蔡雪卿), fled to the US and remain on the police’s most-wanted list.
The ruling said the Wangs used a wide number of schemes to embezzle funds from their companies between 1998 and 2007.
The Supreme Court has asked the Taiwan High Court to have a retrial for other Wang family members involved in the embezzlement scandal, saying their sentences were too lenient.
Their cases are now pending in the Taiwan High Court.
Taipei District Prosecutors’ Office spokesman Huang Mo-hsin (黃謀信) said yesterday that since Wang Lin-ke had paid the NT$2 million fine, his case was now closed.