The Taipei District Prosecutors Office yesterday indicted Huang Tsung-hung (黃宗宏), chairman of the Taiwan Pineapple Group (台鳳集團), and 20 other people for illegally speculating on the company's stocks.
Among those indicted were Huang's brother-in-law Chen Tai-sheng (陳台盛), owner of the Huang Lung Investment Company (黃龍投資公司) Huang Jen-chung (黃任中), the company's chief manager Ma Chung-fang (馬忠芳) and Lin Chia-cheng (林家榛), son of the owner of KTP Industries Ltd (凱聚) Fu Kun-chi (傅崑萁). Market speculators Chen Wen-chi (陳文吉) and Shih Chin-sheng (史金生) were indicted, as well as several securities company employees who allowed their names to be used for dummy accounts.
Prosecutor Lo Jung-Chien (羅榮乾) charged Huang and the others with violating the Securities Transaction Law (證券交易法) and the Money Laundering Control Law (洗錢防制法).
In a 133-page bill of indictment, Lo accused the defendants of trading without transfering ownership and manipulating the price of negotiable securities.
Besides Taiwan Pineapple, Lo said the defendents also speculated in other stocks such as Ever Fortune (長億) and KTP Industries.
According to sources, several prosecutors and judges were also allegedly involved in speculating in Taiwan Pineapple stocks.
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