Chairman of OTC Company Suspected of Insider Trading; Prosecutors Raid 13 Locations, Summon 9
The chairman and two brothers of a Taiwanese OTC-listed company are under investigation for alleged insider trading in 2020. They are suspected of making illegal profits of tens of millions of New Taiwan Dollars by trading company shares before the public announcement of a major contract with a US company. The Taipei District Prosecutors Office raided 13 locations and summoned 9 people for questioning.
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- 📰 Published: June 12, 2026 at 17:03
- 🔍 Collected: June 12, 2026 at 17:20 (17 min after Published)
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(Central News Agency, Taipei, June 12) Following a tip-off, prosecutors and investigators suspect the Wu surname chairman, general manager, and deputy general manager of a domestic OTC-listed company of engaging in insider trading in 2020. The Taipei District Prosecutors Office today directed the Investigation Bureau to raid 13 locations simultaneously and summoned Wu and eight others for questioning. The case is being investigated for violations of the Securities and Exchange Act.
According to reports received by prosecutors and investigators, the OTC company issued a material announcement in November 2020 regarding the signing of an energy storage product sales contract with a US company. The three Wu brothers, who served as chairman, general manager, and deputy general manager at the time, are suspected of buying and selling company shares through a friend's account after the material information was confirmed but before it was made public, resulting in simulated profits of tens of millions of New Taiwan Dollars, allegedly violating the insider trading provisions of the Securities and Exchange Act.
The Taipei District Prosecutors Office today directed the Taipei City Investigation Division of the Ministry of Justice Investigation Bureau, armed with search warrants issued by the court, to search 13 locations including the residences of the three Wu brothers and six others, and summoned nine people for questioning. They are expected to be transferred to the Taipei District Prosecutors Office for further questioning tonight. (Editor: Huang Mingxi) 1150612
According to reports received by prosecutors and investigators, the OTC company issued a material announcement in November 2020 regarding the signing of an energy storage product sales contract with a US company. The three Wu brothers, who served as chairman, general manager, and deputy general manager at the time, are suspected of buying and selling company shares through a friend's account after the material information was confirmed but before it was made public, resulting in simulated profits of tens of millions of New Taiwan Dollars, allegedly violating the insider trading provisions of the Securities and Exchange Act.
The Taipei District Prosecutors Office today directed the Taipei City Investigation Division of the Ministry of Justice Investigation Bureau, armed with search warrants issued by the court, to search 13 locations including the residences of the three Wu brothers and six others, and summoned nine people for questioning. They are expected to be transferred to the Taipei District Prosecutors Office for further questioning tonight. (Editor: Huang Mingxi) 1150612
FAQ
What is the allegation in this case?
The chairman and others of an OTC company are suspected of insider trading by using material non-public information about a major contract with a US company.
Which agency is conducting the investigation?
The Taipei District Prosecutors Office is leading the investigation, with searches and questioning carried out by the Taipei City Investigation Division.
How much illegal profit was made?
The simulated illegal profit is estimated to be tens of millions of New Taiwan Dollars.