Recently the prosecutors at Taiwan Supreme Prosecutors Office‘s Special Investigation Group (SIG), were looking into claims that former First Lady Wu Shu-jen had established a shell company in the British Virgin Islands called Armando Holding. They received information from Singapore which reportedly included details about five accounts, three of them registered by Wu Ching-mao and two by Huang Jui-Ching. The BVI company was reportedly set up to manage overseas funds.
It was found out by SIG that the BVI-registered Armando Company had opened an account in Singapore, with relatively small amount of money. Its president was listed as Wu Ching-mao, the brother of the former First Lady of Taiwan, and main beneficiaries were Wu Shu-chen and her two children, Chen Hsiung-yu and Chen Chih-chung. All these persons will be probably summoned to the court investigation. It was said in the unconfirmed media reports that at least two prominent Taiwanese businessmen might have wired funds into the account.
The report about the BVI holding company follows reports mentioning similar offshore companies for the former First Family based in the Cayman Islands, Belize, Mauritius, and on the British Channel Island of Jersey. SIG’s spokesperson Chen Yun-nan did not confirm or deny the reports about Armando Holding, saying investigators were still looking into the reports.