'Back from hell's gate': Hong Kong property high-flier bailed on fraud charges rescued from Taiwanese kidnappers demanding HK$70m ransom
The chairman of a Hong Kong-listed oil company was rescued by police in western Taiwan last night after spending 38 days held by kidnappers, according to Taiwanese media reports.
The chairman of a Hong Kong-listed oil company was rescued by police in western Taiwan last night after spending 38 days held by kidnappers, according to Taiwanese media reports.
Pearl Oriental Oil chairman Wong Yuk-kwan, 68, also known as Wong Kun, was abducted as he left his residence in Xindian district, New Taipei City late last month.
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The businessman had been due to face fraud charges in Hong Kong’s High Court related to the purchase of a US$225 million oilfield in Utah, the United States, and was released on bail. He was originally due to appear back in court today.
Reports at the time claimed Wong had flown to Taiwan in February for a business trip, then claimed to have suffered an accident that required him to stay for treatment.
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After his abduction, Wong’s office in Hong Kong received a ransom order from his kidnappers for HK$70 million, the Central News Agency reported.