By: Matthew Strong, Taiwan News, Staff Writer
TAIPEI (Taiwan News) – Prosecutors raided locations and questioned ten individuals related to DY
Game Tuesday in connection with a possible Chinese investment in embattled game developer XPEC Entertainment Inc., reports said.
Tuesday’s events were the latest in a long line of developments which started last August, when Japanese-invested Bai Chi Gan Tou Digital Entertainment Company dropped a plan to spend about NT$5 billion (US$159 million) on a stake of 25.17 percent in the gaming developer, the first-ever default on a tender offer settlement in Taiwan. As a result, shares in XPEC fell precipitously, burning many small shareholders, and triggering calls for a thorough investigation.
XPEC Chairman Aaron Hsu was ordered detained after several appeals by prosecutors against court decisions to set bail for the businessman. [FULL STORY]