Tuesday, November 13, 2018
Close  
  • share this

Kidnapped Hong Kong tycoon rescued in Taiwan

/ 04:09 PM October 28, 2015

TAIPEI — A kidnapped Hong Kong tycoon has been freed in a dramatic rescue after he was held captive for more than a month by criminals who demanded a $9 million ransom, Taiwan authorities said Wednesday.

Wong Yuk-kwan, also known as Wong Kwan, the chairman of Hong Kong-listed Pearl Oriental Oil exploration company, was found manacled and beaten up Tuesday in a village in western Taiwan after being abducted outside the capital Taipei on September 20, according to authorities.

ADVERTISEMENT

Television footage of the rescue operation showed the 67-year-old looking scrawny and frightened as he sat on the floor of a barren room with his feet cuffed.

His faced was bruised and he was clutching his legs, which were covered in cuts.

FEATURED STORIES

Fifteen people were arrested over the abduction, including a man suspected of masterminding the kidnapping, according to the authorities.

“They sent an e-mail requesting a ransom of HK$70 million (US$9 million),” an official from New Taipei City police told AFP.

“We are assisting the Hong Kong police with the investigation on their end as well,” he said, adding that no ransom was paid.

His company was unavailable for comment when contacted by AFP.

The businessman, who according to Taiwan media reports was in Taipei for medical treatment, was charged in Hong Kong along with three other Pearl Oriental Oil executives in 2013 for fraud and money laundering relating to the acquisition of an oil field in the United States.

Two defendants were found guilty earlier this year and sentenced to seven years and five years in jail respectively.

Wong’s trial has not yet concluded.

ADVERTISEMENT

Pearl Oriental Oil’s main business is oil and gas exploration and the company is valued at HK$957 million. Its main asset is an oilfield in Utah, according to its website.

Hong Kong has a long history of kidnap targeting high-profile members of the business community.

In April, a Hong Kong textiles heiress was abducted and released three days later, after her family paid her captors a ransom of HK$28 million.

Nine people were arrested over the abduction after Hong Kong authorities launched a massive operation to hunt down the suspected kidnappers.

RELATED STORIES

NBI rescues kidnapped trader

Chinese trader abducted; two compatriots tagged

Read Next
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Business, crime, Hong Kong, Kidnap, Taiwan, Tycoons, Wong Yuk-kwan
For feedback, complaints, or inquiries, contact us.


© Copyright 1997-2018 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.