Yuanta Securities Corp (元大證券) chairwoman Judy Tu (杜麗莊) was released on NT$10 million (US$333,000) bail yesterday morning after being called for questioning the previous afternoon over her alleged involvement in an irregular trading case.
Yuanta Securities president Lee Chang (張立秋) and the company’s bond department assistant manager, Wu Li-min (吳麗敏), were also released on bail of NT$2 million and NT$7 million respectively.
The three were banned from leaving the country.
Prosecutors have not indicted the three, but said they suspect the trio violated breach of trust and the Securities Transaction Law (證券交易法).
Taipei District Prosecutors’ Office spokesman Lin Jinn-tsun (林錦村) said that Rudy Ma (馬志玲), Yuanta’s founder and Tu’s husband, and their daughter Ma Wei-hsin (馬維欣), chairwoman for Yuanta Investment Trust Co (元大投信), would soon be subpoenaed.
“We have good reason to believe that Rudy Ma and his daughter are also involved,” Lin said.
Yuanta Securities is the nation’s largest brokerage firm. Forty-seven prosecutors raided 11 locations, including Yuanta Securities’ headquarters in Taipei, on Friday afternoon, after the stock market closed.
The Financial Supervisory Commission launched an investigation into the company last year. The irregularities involved the sale of shares of Yuanta Investment Trust Co to Yuanta Securities in 2005, after the former suffered substantial losses from its investment in interest rate-linked structured notes following a series of interest rate hikes by the US Federal Reserve.
Prosecutors said that Tu reaped an estimated NT$1.1 billion in profit through interest arbitrage, while leaving Yuanta Securities to suffer from absorbing part of its investment affiliates’ losses and damaging the interests of its shareholders.
Former president Tsai Ing-wen (蔡英文) on Monday called for greater cooperation between Taiwan, Lithuania and the EU to counter threats to information security, including attacks on undersea cables and other critical infrastructure. In a speech at Vilnius University in the Lithuanian capital, Tsai highlighted recent incidents in which vital undersea cables — essential for cross-border data transmission — were severed in the Taiwan Strait and the Baltic Sea over the past year. Taiwanese authorities suspect Chinese sabotage in the incidents near Taiwan’s waters, while EU leaders have said Russia is the likely culprit behind similar breaches in the Baltic. “Taiwan and our European
The Taipei District Court sentenced babysitters Liu Tsai-hsuan (劉彩萱) and Liu Jou-lin (劉若琳) to life and 18 years in prison respectively today for causing the death of a one-year-old boy in December 2023. The Taipei District Prosecutors’ Office said that Liu Tsai-hsuan was entrusted with the care of a one-year-old boy, nicknamed Kai Kai (剴剴), in August 2023 by the Child Welfare League Foundation. From Sept. 1 to Dec. 23 that year, she and her sister Liu Jou-lin allegedly committed acts of abuse against the boy, who was rushed to the hospital with severe injuries on Dec. 24, 2023, but did not
Taiwanese indie band Sunset Rollercoaster and South Korean outfit Hyukoh collectively received the most nominations at this year’s Golden Melody Awards, earning a total of seven nods from the jury on Wednesday. The bands collaborated on their 2024 album AAA, which received nominations for best band, best album producer, best album design and best vocal album recording. “Young Man,” a single from the album, earned nominations for song of the year and best music video, while another track, “Antenna,” also received a best music video nomination. Late Hong Kong-American singer Khalil Fong (方大同) was named the jury award winner for his 2024 album
Hong Kong singer Eason Chan’s (陳奕迅) concerts in Kaohsiung this weekend have been postponed after he was diagnosed with Covid-19 this morning, the organizer said today. Chan’s “FEAR and DREAMS” concert which was scheduled to be held in the coming three days at the Kaohsiung Arena would be rescheduled to May 29, 30 and 31, while the three shows scheduled over the next weekend, from May 23 to 25, would be held as usual, Universal Music said in a statement. Ticket holders can apply for a full refund or attend the postponed concerts with the same seating, the organizer said. Refund arrangements would
RSS