International law expert Jonathan Levy has announced the filing of a lawsuit in U.S. District Court against the business managers of the Kuomintang ruling party of the Republic of China in-exile to recover stolen assets.
Plaintiffs in the lawsuit are the Taiwan Civil Rights Litigation Organization and two bondholder partnerships, Fort Night Holding and Pacific Sentry Associates.
Levy explains the case, "Holders of Chinese bonds issued from 1895-1942 which are all in default since 1949 are taking on the former masters of Nationalist China-the Kuomintang."
"Prior to the 2000 election of Chen Shui-bian to the presidency of the Republic of China on Taiwan, the Kuomintang of Generalissimo Chiang Kai-shek ruled Taiwan with an iron fist and expropriated billions of dollars in assets including gold and collateral, some earmarked to redeem defaulted bonds."
The federal complaint, brought in the Northern District of California, charts the convoluted history of a number of bonds issued by the Chinese, all of which have been defaulted by a series of decisions made by the Republic of China under Kuomintang control.
In addition to the list of various defaults, the suit charges that the ROC currency conversion to New Taiwan Dollars in 1950 unjustly enriched the Kuomintang at the expense of gold-backed bondholders and the Kuomintang business managers "wrongfully acquired the surplus gold during this fraudulent conveyance."
Republic of China in-exile leader Ma Ying-jeou is also the head of the Kuomintang and has talked about donating Kuomintang stolen assets to charity. The party presently has hundreds of employees and hundreds of pensioners living on its business income. Attorney Levy has estimated the current wealth of the Kuomintang to be approximately $6 billion dollars making it the richest political party in the world.
Prior to World War II the island of Formosa was Japanese territory. The surrender of the Japanese to the United States in August 1945 brought hope to the islanders that 400 years of colonial rule would end. Instead, in October of 1945, the U.S. Navy landed Chiang Kai-shek's Kuomintang troops on the island to process Japanese soldiers.
Chiang's forces were allowed by the United States to remain on the island while the Chinese civil war between the Nationalists and Communists raged. Following his defeat in 1949 Chiang moved his exiled government and 2 million soldiers and elite to Taiwan where the Kuomintang ruled under a harsh martial law for four decades.
The Republic of China in-exile continues to control Taiwan in a stateless condition that the District of Columbia U.S. Court of Appeals has declared to be "political purgatory" while the Communists in China continue to threaten invasion of the island to finish the civil war.
Disclaimer: The author is an officer of Pacific Sentry Associates, a co-plaintiff in the TCRLO vs. KMT lawsuit.
Comments
Good! Hope the money can be recovered and given to the Non-Han Naruwan Nation as partial payment for the Han occupation and colonization of our Sacred Island!
Masalu!
The Naruwan Nation , the Non-Han Indigenous First People of Taiwan is thankful to International law expert Jonathan Levy for
helping tell the truth about the KMT-DPP Han occupation of our Sacred Island and for exposing those fake but very rich , so-called 'Native Taiwanese Hans' who usurped our inherent 'Native Taiwanese' title aside from colonizing our Island.
Formosan indigeneous tribes might have a claim to "Indian Lands" under a federal reservation of 18 USC 7(3) special territorial jurisdiction. The US Naval Reservation of Guantanamo Bay, Cuba, was created under the 1898 Treaty of Paris (Art 9) and SFPT has not exercised any aboriginal claims in trust of 18 USC 7(3) and TRA. Even Taiwan cession is returned to China, any SFPT federal reservations could remain "Indian Lands" in perpetuity under the TRA. That is something to consider for protection against Han dominnations.
Why group Chinese dictators CCP takes whatever cost intended to invade Taiwan? Because the wealth KMT 6 billions USD will be forfeiture to become CCP owned if CCP aggressive Taiwan is successfully.
The News reported, KMT had throw Taiwan money in the foreign countries since 1949, about worth billions UDS invested properties, schools, etc. in Hong-Kong, S. Korea and rest of the world, most those properties had forced forfeiture by CCP since UN and US served diplomatic relationship with Taiwan (ROC) 1977.
Note: previous comments by Lili Shin, To correct the word “served” should be replaced with “severed” diplomatic relationship with Taiwan
Taiwanese children forced to learn wrong education about Taiwan and China that distorted history, KMT should get rid of stick with Chinese old dirty trick systems, mislead children to go astray.
Stop CCP comrade agitprops that incendiary speech to incite children deteriorating, force innocence children to engage in an intramural, or to dig one’s own crave.
It isn’t wise to humor the dictators. The group Chinese CCP dictators may pretend sympathy with hypocrite, but bully the weaker, and humiliation peace terms. The long isolated exhausted the country-Taiwan; stop enemy CCP swagger Taiwanese into concessions, Taiwanese must self-strong stand solid ground to extricate themselves from enemy. With you all support to keep Taiwanese children can continue existing on the tiny island on the Earth.
Taiwanese appreciate Michael, and thanks million to the Attorney Levy
I agree that the money recovered should be given as land payment
to the Taiwanese Aborigines and not given to the KMT and DPP Chinese who are land squatters.
Moreover more payment for the island 'rent' by the KMT and DPP Chinese must be charged by the Taiwanese Aborigines so that they can rebuild their beautiful island which was converted into
the worlds number one CO2 emitter by the KMT and DPP Hans who enjoys clogging the islands with scooters.
Part of the rent will then be used to fund schools to teach the true history of the Taiwan Aborigines and then pass laws to make their language officialy replace the Hokkien and Mandarin tonques of the Chinese colonizers.
In this way the lies spread by many which whitewashed Taiwan's history as starting only after 1945 will be exposed.
Naruwan be careful! This international expert is funded by the wealthy Chinese in Oregon and California who claims to be 'Native Taiwanese'!
TCRLO is funding the anti-KMT litigation of the two California lawyers based out of Oregon and South Carolina. Native sons of America will pursue the gold collateral of defaulted debts and were smuggled into Hong Kong offshore accounts in 1950. KMBC is a party-controlled conglomerate funded by their 1950 conversion of ROC gold reserves into private assets of the KMT. The default was a theft from the American gold bondholders with the ROC gold collateral laundered from China into Taiwan banks and then into Hong Kong and Bangkok gold exchanges kept outside of the Bretton-Woods System. It was a massive gold laundering conspiracy by the KMBC.
You can keep all your Chinese gold and money .
We just want our Sacred Island back!
The Non-Han Naruwan Nation will have nothing to do with the gold and money quarells between the Taiwanese-Han-Americans now living luxuriously in the USA, the KMT and DPP and CCP Hans.
TCRLO meiguanxi? The option of federal reservations remains on the table.
Financial crimes of 228 are a separate matter for litigation against the KMT, the "Ugly Chinese" on Taiwan.
"TCRLO meiguanxi?"
That's Chinese right? So TCRLO is Chinese!
TCRLO is hardly Chinese. Get real.
then why TCRLO speaka chinese word meiguanxi?
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