STOCK MANIPULATION: The PJ Asset Management Co executive allegedly told a labor fund manager that he would pay him for buying shares at above market prices
Date: Nov 29, 2020
By: Staff writer, with CNA
The executive, surnamed Chiu, allegedly bribed ministry official Yu Nai-wen (游迺文) to manipulate select stocks by making purchases from the labor fund’s pool of money, prosecutors said.
Because he gave Yu bribes, Chiu was charged with breaches of the Anti-Corruption Act (貪污治罪條例) and the Securities and Exchange Act (證券交易法), they said.
The charges came yesterday after the prosecutors’ office launched a second investigation into the case. [FULL STORY]