Wang was indicted in April 2000 and was barred from leaving Taiwan starting in 2002. In April 2007, he was sentenced to prison after he was found guilty in misusing the funds of Chung Shing Commercial Bank for more than NT$80 billion. He failed to report for his jail term, which was to begin on 15 September 2007. Subsequently, he was placed on the wanted list. He was suspected to have fled to mainland China and had transferred most of his wealth to the mainland and other countries.