Executive accused of bribery out on bail

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

Taipei Times
Date: Nov 29, 2020
By: Staff writer, with CNA

PJ Asset Management Co executive, surnamed Chiu, is escorted by police to the Taipei District Prosecutors’ Office in the city’s Shilin District for questioning yesterday.
Photo: Chien Jung-fong, Taipei Times

A PJ Asset Management Co executive accused of bribing a Ministry of Labor official in charge of managing a labor fund was yesterday released after posting NT$300,000 (US$10,413) in bail, the Taipei District Prosecutors’ Office said.

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]

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