Inventec Appliances Corp chairman Chang Ching-sung (
"Chang, company president Daniel Lee (李家恩) and other three executives were interviewed by agents from the Ministry of Justice's Investigation Bureau and prosecutors about the alleged insider trading," Banciao District Prosecutors' Office spokesman Huang Yu-yuan (黃玉垣) said yesterday.
The questioning was continuing at press time.
Prosecutors and bureau agents also raided Inventec's headquarters in Wugu (
Five company executives, including spokesman Michael Chen (陳烈宏), deputy general manager Chuang Chin-tai (莊今台) and chief financial officer Ivan Tseng (曾慶安) have been detained so far.
Chang and Lee had just returned from overseas trips on Monday.
Prosecutors said Inventec Appliances, a handset maker known for its OKWAP brand as well as for making iPod music players for Apple Inc, had been informed by Apple that it was reducing its orders for iPods in January. They said that company executives sold shares in the company before it made a public announcement about the cutback by Apple.
Inventec Appliances insists that it did not interfere in stock trading by senior executives and their relatives because they were a personal matter.
Inventec Appliances is the biggest supplier of PHS (Personal Handy-phone System) handsets in China, with a 30.9 percent market share, after moving into the market in 2005.
Inventec is the latest in a string of listed companies under investigation for insider trading, following Veutron Corp and BenQ Corp.
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