Pharmally president says no formal subpoena issued yet by Taiwanese gov’t over alleged stock manipulation

Pharmally Pharmaceutical Corporation chairman and president Huang Tzu Yen on Tuesday claimed that the Taiwanese government has not issued a formal arrest warrant against him yet over alleged stock manipulation.

Appearing at the Senate hearing for the first time, Huang was asked by Senate blue ribbon chairman Richard Gordon to confirm information that he has pending arrest warrant in Taiwan.

Huang said he only knew about it through news reports but there were no official communications yet from the Taiwanese government.

“I have only received news of this supposed warrant of arrest from my online searches. I have contacted attorneys with understanding of this since June. I have not received a reply as of today,” Huang said.

Senator Risa Hontiveros, who first bared the stock manipulation charges supposedly filed against Huang, opposed the Pharmally official’s claim, saying his name was posted on the website of Taiwan’s Ministry of Justice since 2020.

“Just for the record, it really invites incredulity the statement just made by Mr. Huang Tzu Yen that he is not aware of the warrant of arrest in relation to stock manipulation because it has been posted on the website of the Ministry of Justice Investigation Bureau of Taiwan since December 2020,” Hontiveros asserted.

Huang explained that he was only made aware of this last March 2021.

“I was only made aware of this…in March 2021. I am waiting for a formal subpoena to be issued to me, in relation to this and I have not received any,” he said.

Huang added that he already asked lawyers to contact the Taiwanese authorities regarding the case but there was no response given yet.

Gordon then asked Huang on the whereabouts of his father, Huang Wen Lei who is allegedly wanted in Taiwan for securities fraud, stock manipulation, and embezzlement.

“I do not know where my father is since…we have been estranged since early 2020,” the Pharmally official said.

Huang Tzu Yen said his father “disappeared.”

Earlier, Hontiveros questioned the government’s transaction with the Huangs of Pharmally, whom she called as “fugitives.”

Hontiveros linked some Pharmally officials to Chinese businessman and President Rodrigo Duterte’s former economic adviser, Michael Yang.

According to her, Full Win Group directors Rose Lin and Gerald Cruz are also incorporators of Pharmally.

The chairman of Full Win was Zheng Bingqiang who was reportedly wanted for manipulating the stocks of Pharmally International Holdings, Hontiveros said.

The senator said Michael Yang chairs the “Philippine version” of the Full Win company.

The Senate blue ribbon committee has cited Yang in contempt. It likewise recommended a warrant of arrest issued against President Rodrigo Duterte’s former economic adviser.

The Senate investigation is now focused on DOH’s transfer of P42 billion funds to the PS-DBM for the procurement of face masks and face shields from different suppliers at the onset of the COVID-19 pandemic last year.

The PS-DBM and its former chief, resigned Budget undersecretary Christopher Lloyd Lao, are currently in hot water due to purchase of PPEs that was also flagged by state auditors.

The lawmakers gave special attention to the transactions entered into by the PS-DBM with Pharmally, a small firm that only had a paid-up capital of around P625,000 but secured over P8 billion worth of government contracts for the procurement of PPEs.

Senators were also seeking information on the possible links of Yang to Pharmally.—AOL, GMA News