In November 2019, Wang sought political asylum in Australia, claiming to be a spy who was involved in the People's Republic of China's intervention in the affairs of Hong Kong SAR and Taiwan.
[11] Wang claims that he was involved in the PRC government's operation to support pro-Beijing media outlets in Taiwan and candidates in the 2018 Taiwanese local elections, with the ultimate goal to prevent incumbent ROC President Tsai Ing-wen's re-election in 2020.
[13] Lam Wing Kee told Hong Kong media that Wang was likely just repeating details of the abduction that he had “heard elsewhere,” dismissing his claim to have played any central role in the operation.
[20] On 8 April 2021, Xiang and Gong were charged with illegally laundering around US$24 million from Shanghai-based Guotai Investment Holding Group (國太投資), with an investigation regarding whether the two violated the National Security Act ongoing.
[22][23] However, on 12 November 2021, Taiwan's Taipei Prosecutors Office said it has dropped all national security related charges against Xiang Xin and five other alleged associates citing "a lack of evidence".
[4] The prosecutors said they could not find any evidence to back Wang Liqiang's assertions that the businesses invested by Xiang Xin ever engaged in election interference or information operations in Taiwan.
[27] James Laurenceson, acting director of the Australia–China Relations Institute at the University of Technology Sydney criticised the Australian media for pushing the Wang story too hastily without having it verified first.
"[29] Ma Xiaoguang, leader of the Taiwan Affairs Office of the Chinese State Council, said that "the mainland never involves itself in Taiwanese elections, and these reports are complete nonsense."
"[30] The Jing'an Branch of the Shanghai Public Security Bureau issued an official statement that Wang was a fugitive in a fraud case and that both his Chinese passport and Hong Kong permanent resident identity card were forged.
[31] On 27 November, Chinese state-owned Global Times released an "exclusive" court video apparently showing Wang on trial for fraud, admitting all charges, and given a suspended sentence of 18 months.