Lin Ming-da (林明達), the prime suspect in a case of alleged insider trading in Power Quotient International Co (勁永國際) shares, yesterday fought back by accusing the prosecutors in charge of the case of forcing him to make a false confession that he colluded with a senior financial regulator.
"Do not make me the victim of a dogfight between the prosecutors, the Black Gold Investigation Center and the Financial Supervisory Commission," he said.
Accusations
PHOTO: SUNG CHIH-HSIUNG, TAIPEI TIMES
Lin, 42, has been involved in the stock market for 18 years. Chinese-language newspapers reported that he had short-sold 2 million shares in Power Quotient between Dec. 24 and March 15, raking in a profit of NT$7.68 million (US$240,000).
But Lin dismissed the reports yesterday.
In short-selling, an investor profits by betting that a stock will decline.
Prosecutors last week claimed they found a note in Lin's office suspected to have been written by Lee Chin-cheng (李進誠), the director-general of the Financial Supervisory Commission's Examination Bureau, which asked Lin to borrow money to buy Power Quotient shares for him.
No connection
At a press conference yesterday, Lin said he and Lee were merely acquaintances and denied receiving the note from Lee. He said Lee had nothing to do with the case.
Lin said he would soon make public critical evidence if necessary. He declined to elaborate on the nature of the evidence.
In response, Financial Supervisory Commission vice chairman Lu Daung-yen (
The commission would announce the results of the investigation at the proper time, he said.
Lu's comments suggest that the commission is toning down its language following Premier Frank Hsieh's (
Taiwan Transport and Storage Corp (TTS, 台灣通運倉儲) yesterday unveiled its first electric tractor unit — manufactured by Volvo Trucks — in a ceremony in Taipei, and said the unit would soon be used to transport cement produced by Taiwan Cement Corp (TCC, 台灣水泥). Both TTS and TCC belong to TCC International Holdings Ltd (台泥國際集團). With the electric tractor unit, the Taipei-based cement firm would become the first in Taiwan to use electric vehicles to transport construction materials. TTS chairman Koo Kung-yi (辜公怡), Volvo Trucks vice president of sales and marketing Johan Selven, TCC president Roman Cheng (程耀輝) and Taikoo Motors Group
Among the rows of vibrators, rubber torsos and leather harnesses at a Chinese sex toys exhibition in Shanghai this weekend, the beginnings of an artificial intelligence (AI)-driven shift in the industry quietly pulsed. China manufactures about 70 percent of the world’s sex toys, most of it the “hardware” on display at the fair — whether that be technicolor tentacled dildos or hyper-realistic personalized silicone dolls. Yet smart toys have been rising in popularity for some time. Many major European and US brands already offer tech-enhanced products that can enable long-distance love, monitor well-being and even bring people one step closer to
RECORD-BREAKING: TSMC’s net profit last quarter beat market expectations by expanding 8.9% and it was the best first-quarter profit in the chipmaker’s history Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), which counts Nvidia Corp as a key customer, yesterday said that artificial intelligence (AI) server chip revenue is set to more than double this year from last year amid rising demand. The chipmaker expects the growth momentum to continue in the next five years with an annual compound growth rate of 50 percent, TSMC chief executive officer C.C. Wei (魏哲家) told investors yesterday. By 2028, AI chips’ contribution to revenue would climb to about 20 percent from a percentage in the low teens, Wei said. “Almost all the AI innovators are working with TSMC to address the
Malaysia’s leader yesterday announced plans to build a massive semiconductor design park, aiming to boost the Southeast Asian nation’s role in the global chip industry. A prominent player in the semiconductor industry for decades, Malaysia accounts for an estimated 13 percent of global back-end manufacturing, according to German tech giant Bosch. Now it wants to go beyond production and emerge as a chip design powerhouse too, Malaysian Prime Minister Anwar Ibrahim said. “I am pleased to announce the largest IC (integrated circuit) Design Park in Southeast Asia, that will house world-class anchor tenants and collaborate with global companies such as Arm [Holdings PLC],”