Senior executive accused of insider trading through family accounts
Taiwan News
Date: 2017/03/08
By: Matthew Strong, Taiwan News, Staff Writer
TAIPEI (Taiwan News) – A senior executive at Credit Suisse Taiwan Elsa Chiu (邱慧平)
Credit Suisse manager Elsa Chiu. (By Central News Agency)
and her husband were released on bail early Wednesday after being interrogated about alleged insider trading in the takeover of Hermes Microvision Inc. (HMI,漢微科) by ASML of the Netherlands.
Chiu allegedly made NT$21 million (US$679,000) in profits on the deal, the second-biggest merger of the year in Taiwan in 2016. ASML is the world’s largest producer of photolithography systems for the computer industry, while HMI supplies chip-making machinery.
After facing raids on her home and office on Tuesday, Chiu was taken in for questioning. Early Wednesday, she was allowed to leave the Taipei District Prosecutors Office after paying NT$5 million (US$162,000) in bail. [FULL STORY]
