Fugitive business tycoon loses Taiwan citizenship

Taipei [Taiwan], October 6 (ANI): The government of Taiwan has officially revoked the Republic of China (ROC) citizenship of fugitive business tycoon Chen Yu-hao, who has been living in China for the past 22 years, reported Taipei Times.
This decision, announced by the Mainland Affairs Council (MAC), follows the discovery that Chen had obtained household registration in China.
The Ministry of the Interior has annulled Chen's household registration in Taiwan, with the MAC stating that his ROC citizenship been terminated, effective immediately. Chen acquired Chinese citizenship in 2013 after fleeing to China in 2002.
As a result of losing his Taiwanese citizenship, Chen is now required to seek permission to enter Taiwan as a Chinese citizen. The MAC emphasised its commitment to tightening scrutiny on any potential entry by Chen using a passport from a third country, the report said.
The MAC has repeatedly called on Chinese authorities to extradite Chen back to Taiwan under the rules governing cross-strait crime crackdowns and mutual judicial assistance, but these requests have gone unanswered. The council expressed disappointment over China's failure to comply with regulations related to anti-crime measures and mutual legal support across the Taiwan Strait, reported Taipei Times.
Chen fled Taiwan in 2001 after disbanding the Tuntex Group amid an investigation into allegations that he embezzled approximately NT $70 billion (USD 2.19 billion) from the company. He also owes around NT $450 million in personal income tax, Taipei Times reported.
The Tuntex Group was a conglomerate involved in various sectors, including property, petrochemicals, textiles, retail, and hotels. Chen, US citizen, was able to travel freely between the United States and China.
In 2002, he established a petrochemical complex in Xiamen with a paid-in capital of 3.34 billion Yuan (USD 475.95 million), producing products such as benzene dicarboxylic acid. Indicted in 2003, Chen was listed among Taiwan's top 10 most-wanted fugitives. Since acquiring Chinese citizenship, he has developed strong ties with Chinese officials and the business sector.
The MAC urged China to heed the judicial justice aspirations of its citizens and to refrain from protecting Taiwanese criminals, advocating instead for their return to Taiwan to face trial. This action, they argued, would promote the welfare of individuals on both sides of the Taiwan Strait.
Additionally, the Ministry of Justice's Administrative Enforcement Agency announced plans to auction 317 plots of Chen's properties to settle his substantial unpaid personal income tax debts. (ANI)