Country duped $32m in loyalty scam
Rowan Callick; 5/5/08
The Taiwan Government has lost $32 million it gave to two men who claimed they could use it to persuade the Papua New Guinean Government to switch its diplomatic loyalty from Beijing to Taipei. The scandal came to light when Taiwan began legal proceedings in Singapore to recover the money and Singaporean newspaper Lianhe Zaobao reported on the case. The men who were given the money, which was paid into a Singapore bank account on their behalf, are Wu Shih-tsai, a 55-year-old brought up in Taiwan but now a Singapore citizen, and Ching Chi-ju, aged 64, who lives in Taiwan but has an American passport.
See: http://www.news.com.au/story/0,23599,23645239-401,00.html