BenQ's chairman and president charged in Taiwan, out on bail
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]
