World news | Fugitive business magnate loses Taiwanese citizenship

Taipei (Taiwan), October 6 (ANI): The Taiwan government has officially revoked the citizenship of the Republic of China (ROC) of fugitive business magnate Chen Yu-hao, who has been living in China for the past 22 years, Taipei Times reported.

The decision, announced by the Mainland Affairs Council (MAC), follows the discovery that Chen had obtained family registration in China.

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The Ministry of Interior has annulled Chen’s registration in Taiwan, with the MAC stating that his ROC citizenship has been terminated with immediate effect. Chen acquired Chinese citizenship in 2013 after fleeing to China in 2002.

As a result of losing his Taiwanese citizenship, Chen must now apply for permission to enter Taiwan as a Chinese citizen. The MAC emphasized its commitment to tighten scrutiny of any possible entry of Chen with a passport from a third country, the report said.

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The MAC has repeatedly appealed to Chinese authorities to extradite Chen to Taiwan under the Cross-Strait Crime and Mutual Legal Assistance Rules, but these requests have gone unanswered. The council expressed disappointment over China’s inability to comply with regulations regarding anti-crime measures and mutual legal support in the Taiwan Strait, the Taipei Times reported.

Chen fled Taiwan in 2001 after dissolving the Tuntex Group amid an investigation into allegations that he embezzled about NT$70 billion (USD2.19 billion) from the company. He also owes about NT$450 million in income taxes, the Taipei Times reported.

The Tuntex Group was a conglomerate active in several sectors, including real estate, petrochemicals, textiles, retail and hotels. An American citizen, Chen could travel freely between the United States and China.

In 2002, he established a petrochemical complex in Xiamen with a paid-up capital of 3.34 billion yuan (475.95 million USD), producing products such as benzenedicarboxylic acid. Chen was indicted in 2003 and was one of Taiwan’s top 10 most wanted fugitives. Since acquiring Chinese citizenship, he has developed strong ties with Chinese officials and the business community.

The MAC urged China to heed its citizens’ judicial justice aspirations and refrain from protecting Taiwanese criminals, instead advocating for their return to Taiwan to face justice to stand. This action, they argued, would promote the well-being of individuals on both sides of the Taiwan Strait.

In addition, the Justice Department’s Administrative Enforcement Bureau announced plans to auction off 317 parcels of Chen’s property to pay off his significant unpaid income tax debts. (ANI)

(This is an unedited auto-generated story from the syndicated news feed. Staff may not have edited or edited the content recently)