District prosecutors yesterday searched Intrust Securities Investment Consulting Co (新天證券投顧) on suspicion that the company sold offshore funds illegally.
The Taipei District Prosecutors’ Office received information that the securities investment company had been selling unauthorized offshore funds from the Virgin Islands. After gathering evidence, prosecutors yesterday raided several locations, including the company’s office on Xinyi Road and the residences of company management.
Prosecutors and staff from the Investigation Bureau collected evidence including financial reports and took company employees, including a top manager surnamed Wang (王), for questioning.
NO APPROVAL
Prosecutors suspect company officials of violating Article 107 of the Securities Investment Trust and Consulting Act (證券投資信託及顧問法) by selling offshore funds without approval from authorities.
The crime is punishable by imprisonment of up to five years and a fine of between NT$1 million (US$30,500) and NT$50 million.
Prosecutors suspect the company has raised tens of millions of NT dollars for an illegitimate offshore fund.
AT RISK
Because the offshore fund may not have been approved by the Financial Supervisory Commission, the legal rights and benefits of customers who purchased shares of the fund may be at risk, prosecutors said.
Prosecutors have yet to determine whether the company was also involved in fraud.
A proposed 100 percent tariff on chip imports announced by US President Donald Trump could shift more of Taiwan’s semiconductor production overseas, a Taiwan Institute of Economic Research (TIER) researcher said yesterday. Trump’s tariff policy will accelerate the global semiconductor industry’s pace to establish roots in the US, leading to higher supply chain costs and ultimately raising prices of consumer electronics and creating uncertainty for future market demand, Arisa Liu (劉佩真) at the institute’s Taiwan Industry Economics Database said in a telephone interview. Trump’s move signals his intention to "restore the glory of the US semiconductor industry," Liu noted, saying that
On Ireland’s blustery western seaboard, researchers are gleefully flying giant kites — not for fun, but in the hope of generating renewable electricity and sparking a “revolution” in wind energy. “We use a kite to capture the wind and a generator at the bottom of it that captures the power,” said Padraic Doherty of Kitepower, the Dutch firm behind the venture. At its test site in operation since September 2023 near the small town of Bangor Erris, the team transports the vast 60-square-meter kite from a hangar across the lunar-like bogland to a generator. The kite is then attached by a
Foxconn Technology Co (鴻準精密), a metal casing supplier owned by Hon Hai Precision Industry Co (鴻海精密), yesterday announced plans to invest US$1 billion in the US over the next decade as part of its business transformation strategy. The Apple Inc supplier said in a statement that its board approved the investment on Thursday, as part of a transformation strategy focused on precision mold development, smart manufacturing, robotics and advanced automation. The strategy would have a strong emphasis on artificial intelligence (AI), the company added. The company said it aims to build a flexible, intelligent production ecosystem to boost competitiveness and sustainability. Foxconn
STILL UNCLEAR: Several aspects of the policy still need to be clarified, such as whether the exemptions would expand to related products, PwC Taiwan warned The TAIEX surged yesterday, led by gains in Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), after US President Donald Trump announced a sweeping 100 percent tariff on imported semiconductors — while exempting companies operating or building plants in the US, which includes TSMC. The benchmark index jumped 556.41 points, or 2.37 percent, to close at 24,003.77, breaching the 24,000-point level and hitting its highest close this year, Taiwan Stock Exchange (TWSE) data showed. TSMC rose NT$55, or 4.89 percent, to close at a record NT$1,180, as the company is already investing heavily in a multibillion-dollar plant in Arizona that led investors to assume
RSS