MONROVIA, Calif. - A businessman accused of bilking the Taiwanese government out of nearly $30 million committed no crime and is prepared to return part of the money, his lawyer said Tuesday.


Ching Chi-ju, a U.S. citizen, is believed to have disappeared with $29.8 million that was to be used in a failed attempt to lure Papua New Guinea to officially recognize Taiwan.
His attorney, John S. Chang, said at a news conference that Ching was eager to be questioned by Taiwanese prosecutors. He translated a statement in Chinese that he said came from his client.
"I shall be cooperating with the investigative and the prosecutorial officials in order to clean up this whole mess," the statement said.
Ching has been hiding because he was told there was a $10 million bounty on his life, Chang said. Taiwanese officials say Ching was last seen in Taiwan in Dec. 2006, months after the diplomatic deal fell through.
The money was intended as economic aid for Papua New Guinea, providing it switched its recognition from rival China. Taiwan and China have been engaged in fierce competition to win diplomatic allies since the two split amid civil war nearly 60 years ago.
The money was given to two middlemen on the assumption they could induce the impoverished Pacific nation to abandon Beijing. The effort was abandoned after the Taiwanese government concluded Papua New Guinea was unlikely to do so.
Taiwanese Foreign Minister James Huang, Deputy Premier Chiou I-jen and Vice Defense Minister Ko Cheng-heng resigned last week over the scandal. All have acknowledged their involvement with the middlemen but denied any criminal wrongdoing.
A Taiwanese prosecutor put Ching on a most-wanted fugitives list Monday and requested the help of U.S. authorities in locating Ching, according to Taiwan's Central News Agency.
Los Angeles FBI spokeswoman Laura Eimiller said she did not know of any requests to the field office there.
NAME_Timothy F. Geithner AGE-BIRTH DATE-LOCATION-47; August 18, 1961, New York City.
U.S stocks fell on Wednesday as investors grew concerned that a bailout loan package for ailing automakers would fail to be approved by U.S. lawm...
A bouncer already sentenced to lengthy prison terms for two New York City murders has been convicted of shooting another man dead and wounding th...


Learn From A Veteran E-mini Trader - Not A Salesman. 100% Guaranteed. Free DVD. USA & Canada Only.
Apply online today. No medical exam. No agent visit. Get instant coverage if you qualify.
Baldwin Linguas:
Translations Interpreting Localization:
English French Portuguese Spanish