Taiwanese authorities have rescued a Hong Kong businessman who was kidnapped and held captive in the country for over a month, arresting 12 suspects.

Pearl Oriental Oil Limited chairman Wong Yuk-kwan, also known as Wong Kwan, went missing in New Taipei City on September 20, sparking speculation that he had absconded to avoid fraud charges in Hong Kong.

Wong Kwan. Photo: Apple Daily.

The 67-year-old was found on Tuesday night in a deserted karaoke bar in western Taiwan’s Yunlin county, Apple Daily reported.

Exclusive pictures obtained by the newspaper showed a frightened Wong sitting on the floor while two of his subdued captors lay face-down next to him. Wong appeared to have sustained injuries on his legs and face.

According to Apple Daily, Wong’s family received emails from the kidnappers demanding a ransom of HK$70 million earlier this month. The kidnappers threatened to break Wong’s legs and gouge out his eyes if his family failed to pay, the newspaper said.

After more than a month of investigation, police arrested 12 suspects in Taipei, Taoyuan and Yunlin on Tuesday.

Wong is facing charges in a fraud and money laundering case in Hong Kong, where he has been accused of supplying false information to the Hong Kong Stock Exchange on a Pearl Oriental oil deal in the US.

Wong went to Taiwan “to rest” after he was granted HK$5 million bail. His bail was forfeited after he failed to appear in a High Court hearing earlier this month, Apple Daily said.

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Vivienne Zeng

Vivienne Zeng is a journalist from China with three years' experience covering Hong Kong and mainland affairs. She has an MA in journalism from the University of Hong Kong. Her work has been featured on outlets such as Al Jazeera+ and MSNBC.