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Wednesday, December 18, 2013

Taiwan seeks recovery of frozen funds from frigate scandal

Lafayette class frigateTaiwan is seeking to reclaim US$340 million from Swiss accounts belonging to former Taiwanese Navy Captain Kuo Li-heng and arms broker Andrew Wang, the men behind a corruption scandal linked to the 1991 procurement of Lafayette-class frigates from France, Taiwanese investigation authorities said Tuesday.

Special Investigation Division spokesman Chang Chin-feng declined, however, to reveal more details as "mutual judicial assistance" is still ongoing.

Taiwan's High Court earlier this year found that Kuo was an accomplice in the bribery scandal, opening the door for Taiwan to reclaim the US$340 million.

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