Taiwan media tycoon Gary Wang enters jail
Taiwan News, Staff Writer
2013-11-01 05:46 PM
TAIPEI (Taiwan News) – Eastern Multimedia founder Gary Wang began serving a prison sentence of five years and six months Friday in the wake of the Rebar Asia Pacific embezzlement scandal which brought down a large number of his relatives.
His brothers Wang Ling-chiao and Wang Ling-yi and his sister Wang Ling-mei recently also entered jail in connection to the same scandal.
The family’s Rebar Asia Pacific empire descended into chaos and filed for bankruptcy as their father, Wang You-theng, fled the country in late 2006 amid allegations he had siphoned billions out of his companies. He is believed to be living in California with his wife.
Reporting to the Taipei District Prosecutors Office Friday to start his term, Gary Wang said he respected the judiciary, but denied being responsible for the siphoning off of NT$1.4 billion (US$47 million) from Asia Pacific Broadband Telecom for which he was convicted. Wang said that at most, he was only a ‘side player’ and a ‘facilitator’ in the affair. His attorney told reporters that he would do his utmost to find legal methods to solve the tycoon’s problems.
As police led him to the bus heading for prison, Wang held up a bible in his shackled hands and apologized to the public and to the staff of his business empire.
His brother Wang Ling-tai obtained a postponement of the start of a sentence of six years and eight months because of surgery, reports said. Wang Ling-yi is serving the longest sentence, 30 years in prison, while Wang Ling-chiao was sentenced to 23 years and six months, and sister Wang Ling-mei to five years and a half.
The trial of the Wang family, which started in 2008, saw more than 100 suspects being charged and ended with Wang You-theng being found guilty of embezzling more than NT$40 billion (US$1.3 billion) from his business group, which included hotels, department stores, construction businesses and a bank. He is now one of Taiwan’s most wanted fugitives.
Gary Wang achieved prominence as the founder and chairman of the Eastern Multimedia empire centered on cable station ETTV and also served as lawmaker for the ruling Kuomintang. His father was a member of the party’s powerful Central Standing Committee.
