Belize named in Taiwanese probe of 31 million dollars

Belize has surfaced in an investigation of millions of dollars involving former President of Taiwan, Chen Shui-bian. According to news reports coming out of that country, the former president, his wife, son, brother-in-law and daughter-in-law are being investigated to determine the whereabouts of thirty-one million U.S. dollars they are accused of depositing in offshore accounts in Switzerland among other places. So where does the jewel fit in? Apparently through a company called Galahad Management, which is said to be registered with the International Business Corporation in Belize. It is alleged that ten million U.S. dollars went through that company to an offshore account. When News Five contacted the Ministries of Foreign Affairs, National Security and the Taiwanese Embassy, no one was able to comment on whether any official probe is being conducted in Belize. Chen has denied any wrong doing, although he admits that his wife expatriated twenty million dollars of unused campaign financing to underwrite diplomatic work through which Taiwan provides funding to its allies. Belize’s government had close ties with the Taiwanese government during Chen’s presidency. That relationship continues with the new President Ma Ying-jeou and in the last couple weeks, the Republic of China on Taiwan has given G.O.B. fifty million dollars for budget support. Taiwan enjoys relations with most of Central America, except Costa Rica, a few CARICOM countries and Paraguay in this hemisphere and with several African countries to whom it continues to provide generously for a wide range of bilateral and cooperation programmes.