In the News

Singapore court rules for ROC in battle over missing funds

Ministry of Foreign affairs officials will move to recover funds frozen in a joint Singapore bank account following a ruling by Singapore’s High Court. (CNA)

• Publication Date：05/11/2010
• Source： United Daily News

Singapore’s High Court has ruled that Taiwan is entitled to recover funds allegedly embezzled by two foreign nationals appointed on behalf of the ROC to broker diplomatic ties with Papua New Guinea in 2006.

In a ruling handed down May 10, the court found that the ROC Ministry of Foreign Affairs can claim money held in a joint Singapore bank account by Ching Chi-ju and Wu Shih-tsai.

MOFA spokesman Henry Chen said the ministry would begin moving to recover the funds regardless of any counteraction by Ching. Under Singaporean law, the loser in a civil suit has the right to appeal one time.

Chen said about US$6 million in Ching’s Singapore bank account has already been frozen. If taking into consideration US$3 million in a Singaporean account by Wu and an additional US$1.52 million MOFA recovered in the case last year, the ministry is certain to retrieve a total of US$10.52 million.

The ministry will work to recover the remaining funds in Ching’s accounts in other countries such as the U.S. by working with local authorities and relying on the Singapore court ruling to aide in their efforts, Chen said.

Presidential Office spokesman Lo Chih-chiang said the PNG case has grabbed the attention of ROC citizens, as well as impacting the country’s rights and interests. The government will seek to uphold these rights and interests through legal process, he added. (SB-JSM)