Nankang Rubber Tire Assistant Manager Arrested For Rebate Scam

An assistant manager at Nankang Rubber Tire Corp. and his wife were arrested in connection to a rebate scam. According to the Taipei Times, the Taipei District Prosecutors’ Office and the Criminal Investigation Bureau arrested the couple to investigate if they were involved in receiving illegal rebates from suppliers.
During the arrest, the police seized roughly $67 million in cash found in the assistant manager’s home and office.
The suspect, who was reportedly responsible for purchasing natural rubber for Nankang, allegedly set up a foreign company and demanded suppliers pay the company rebates between $7-$40 for each ton of natural rubber Nankang purchased, authorities said. The manager’s wife is also suspected for being involved in money laundering.

Nankang Rubber reported the case to the police in May and has already assigned the assistant manager to another position, Taipei Times reported. The tiremaker will seek compensation to safeguard its rights and the rights of its shareholders.

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Source Tire Review

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