Prosecutors say that the death of a Taiwanese arms broker who took kickbacks in Taiwan’s procurement of Lafayette-class frigates will not affect efforts to retrieve his illicit gains. The foreign ministry confirmed Tuesday that the arms broker – Andrew Wang – died in London on January 20.
The prosecutors’ office said it will continue to ask Swiss authorities to remit Wang's illicit gains of US$300 million back to Taiwan. The money is currently frozen in Swiss bank accounts.
Prosecutors have decided to drop their case against Wang, but they will continue to pursue Wang's wife and his four children in connection with money laundering activities. The prosecutors say the family members will remain on Taiwan's wanted list.
The corruption and bribery case against Wang stems from a 1991 deal in which Taiwan bought six Lafayette-class frigates from a French company for an inflated price of US$2.8 billion. The price included kickbacks and bribes that facilitated the purchase.