By Craig Zammit
TAIWAN: BenQ Corporation chief financial officer, Eric Yu, has been detained by Taiwanese officials and may be held for up to four months after being investigated for possible insider trading at the company.
The official investigation, which was requested by Taiwan’s Financial Supervisory Commission, was initiated when prosecutors raided the BenQ company headquarters and Taipei office.
The raid focused on collecting information concerning alleged trading in BenQ shares prior to its announcement of the 2005 fourth-quarter results on March 14 last year.
Officially, no charges have been laid against the 51 year old Yu, or the two other executives being questioned by prosecutors, with the current associate vice president of finance for BenQ, Alex Liou, being released on bail for the equivalent of $AU180,368 and Billy Liou, a senior accounting manager, being released for $AU72,936.
“No decision has been made on any management changes, including position of CFO or spokesman,” Albert Lin, a spokesman for BenQ, told Bloomberg.