China element in XPEC probed

Taiwan News
Date: 2016-10-18
By: Matthew Strong, Taiwan News, Staff Writer

TAIPEI (Taiwan News) – Prosecutors raided locations and questioned ten individuals related to DY

XPEC Chairman Aaron Hsu (left).

XPEC Chairman Aaron Hsu (left).

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]

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