TAIPEI (Taiwan News) — The chair of Chinese tech firm Luxshare, Grace Wang (王來春), has been indicted by prosecutors for breaking laws governing cross-strait relations.
New Taipei prosecutors announced the indictment of Wang and three other Luxshare employees on grounds of attempting to defraud the government by operating a company funded by Chinese capital as a Taiwanese enterprise, reported CNA.
Luxshare, which is a major component supplier and manufacturer of Apple products, acquired a division of the Taiwanese company Liteon Technology in 2018. Wang sought to register the firm as an overseas Chinese-invested company in Taiwan, but the Ministry of Economic Affairs blocked the effort.
Despite the rejection, the company, under Wang's direction, continued to operate in Taiwan, changing its name and management to make it appear as a different company. Luxshare allegedly invested over US$65 million (NT$1.9 billion) between 2018 and 2023 to fund the illegal business operation.
The company was focused on recruiting specialists in hardware and software development, with the goal of sending them to work in Guangzhou and other parts of China, per CNA. In May, Taiwan’s Ministry of Justice Investigation Bureau accused Luxshare of running an illegal talent-poaching operation in Taiwan.
Wang is a Hong Kong citizen, but resides in Shenzhen, China. Forbes reports that she is the seventh most independently wealthy woman in the world with a net worth of over US$13 billion (NT$396 billion).
