It doesn't look like the
BenQ saga is showing any signs of letting up anytime soon, with two of the company's top executives now running into trouble with the law over alleged insider trading. According to The Taipei Times, both Chairman K.Y. Lee (who recently
offered to leave the company) and President Sheaffer Lee have been named as defendants in the insider trading case against BenQ, which stems mainly from the company's
mangled acquisition of Siemen AG's mobile phone business. Both men reportedly faced a grilling from prosecutors for some eight hours on Wednesday before being released on bail, at a cost of a couple of hundred thousand dollars apiece. Of course, these aren't the
first charges to be laid against the company in the insider trading probe, with BenQ's CFO and senior VP Eric Yu still locked up after the last sweep by prosecutors. As if BenQ needed any more bad news, the company's shares unsurprisingly took a bit of a tumble after this latest development, adding further to the 20% loss the company has seen over the past three months.
[Via
The Inquirer]
Reader Comments (Page 1 of 1)
Ekio @ Apr 13th 2007 3:26PM
Taiwan's President is on trial. His wife is on trial. His son is in Jail. The opposition leader is on trial. BenQ's execs are now on trial. Everyone in Taiwan are on trial these days.
Richard Lai @ Apr 13th 2007 5:15PM
It's the President's son-in-law, not his son.
Insidiou$ @ Apr 13th 2007 6:58PM
This does not suprise me. If convicted, which I believe they are guilty, then they should recieve excessive jail time and fines out of their personal wallets. These type of execs get away with dishonorable acts all the time. I applaud the prosecutors for going after them and showing everyone that they actually care "somewhat" for the people that were $crewed over. Ky Lee should resign, and stop hiding and saying that the board did not accept his resignation. That is the biggest Crock, Step Down KY LEE, you selfish, dishonorable, 84$tard.
chrisC @ Apr 13th 2007 9:08PM
Typical of crooked Taiwanese businessmen. Maybe these guys should take some legal and ethical lessons before embarking on their ventures.
Jeff @ Apr 14th 2007 12:43PM
If they gave a damn about ethics, they would have never dumped the German Siemens workers like they did. Oh well, I guess morality is merely a Western domain.
Kenneth Latchmansing @ Aug 23rd 2007 9:27AM
Suriname, 22th August 2007
I am looking for the email adresses of the NGO's of the country Taiwan, will you help me to find this email addresses for me, please help me.
Thanks, Mr. Kenneth Latchmansing