Ten officials at Polaris Securities Co (寶來證券) were released without bail by Taipei prosecutors yesterday morning after being questioned in an investigation into alleged embezzlement.
Prosecutors said Polaris chairman Wayne Pai (白文正), who was on a business trip abroad, told prosecutors through the company he would return to Taiwan today to cooperate with the investigation.
Prosecutors said they would soon summon Pai and his son, Pai Chieh-yu (白介宇), who is a company board member.
Five prosecutors and more than 40 assistants raided Polaris offices and the residences of both Pais on Friday and summoned 10 company officials for questioning, including Peter Huang (黃古彬), vice chairman of Polaris, about an alleged breach of trust.
Wayne Pai and other officials are suspected of pocketing several hundred million dollars by selling shares of Polaris International Securities Investment Trust Co (寶來投信) to Polaris Securities in 2004, at a price of NT$69 per share.
China has reserved offshore airspace in the Yellow Sea and East China Sea from March 27 to May 6, issuing alerts usually used to warn of military exercises, although no such exercises have been announced, the Wall Street Journal (WSJ) reported yesterday. Reserving such a large area for 40 days without explanation is an “unusual step,” as military exercises normally only last a few days, the paper said. These alerts, known as Notice to Air Missions (Notams), “are intended to inform pilots and aviation authorities of temporary airspace hazards or restrictions,” the article said. The airspace reserved in the alert is
South Korea is planning to revise its controversial electronic arrival card, a step Taiwanese officials said prompted them to hold off on planned retaliatory measures, a South Korean media report said yesterday. A Yonhap News Agency report said that the South Korean Ministry of Foreign Affairs is planning to remove the “previous departure place” and “next destination” fields from its e-arrival card system. The plan, reached after interagency consultations, is under review and aims to simplify entry procedures and align the electronic form with the paper version, a South Korean ministry official said. The fields — which appeared only on the electronic form
A bipartisan group of US senators has introduced a bill to enhance cooperation with Taiwan on drone development and to reduce reliance on supply chains linked to China. The proposed Blue Skies for Taiwan Act of 2026 was introduced by Republican US senators Ted Cruz and John Curtis, and Democratic US senators Jeff Merkley and Andy Kim. The legislation seeks to ease constraints on Taiwan-US cooperation in uncrewed aerial systems (UAS), including dependence on China-sourced components, limited access to capital and regulatory barriers under US export controls, a news release issued by Cruz on Wednesday said. The bill would establish a "Blue UAS
More than 6,000 Taiwanese students have participated in exchange programs in China over the past two years, despite the Mainland Affairs Council’s (MAC) “orange light” travel advisory, government records showed. The MAC’s publicly available registry showed that Taiwanese college and university students who went on exchange programs across the Strait numbered 3,592 and 2,966 people respectively. The National Immigration Agency data revealed that 2,296 and 2,551 Chinese students visited Taiwan for study in the same two years. A review of the Web sites of publicly-run universities and colleges showed that Taiwanese higher education institutions continued to recruit students for Chinese educational programs without
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