Taiwan asks Switzerland to return $427m in graft case: report
TAIPEI (AFP) - Taiwan has formally asked Switzerland to return US$340 million (S$427 million) in alleged ill-gotten funds linked to a controversial deal to buy French frigates two decades ago, a report said on Tuesday.
Taiwan signed a US$2.8 billion deal to buy six Lafayette-class frigates in 1991, a deal which strained French ties with China at the time and was later found to have been awash with up to US$400 million in bribes.
Swiss authorities have previously agreed to return the money frozen in bank accounts, the Taiwanese Central News Agency reported, citing unnamed sources.
Taiwan's high court in May upheld a ruling sentencing former navy captain Kuo Li-heng to 15 years in prison for taking bribes in the case.