Court orders assets seized in XPEC affair

INTERRUPTED:More than 10 people stand accused in the case involving accusations of fraud, and dubious and insider stock trading that features many prominent names

Taipei Times
Date: Sep 02, 2017
By: Lauly Li  /  Staff reporter

The Securities and Futures Investors Protection Center (SFIPC) yesterday confirmed that the Taipei District Court had imposed a provisional seizure of former Taipei deputy mayor Lee Yong-ping’s (李永萍) assets in a move to protect the interests of investors in XPEC Entertainment Inc (樂陞科技).

Lee is one of three former independent board directors at XPEC.

“I cannot elaborate on the details. All I can say is that it is a necessary move for the SFIPC to impose the asset seizure to keep defendants from eluding compensation payments,” SFIPC chairman Chiu Chin-ting (邱欽庭) said by telephone.

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