By: Matthew Strong, Taiwan News, Staff Writer
TAIPEI (Taiwan News) – OBI Pharma Inc. Chairman Michael Chang was freed on bail of NT$1 million (US$30,900) in the investigation into insider trading with his company’s shares, reports said Saturday.
The allegations have also implicated the nation’s top academic body, the Academia Sinica, because its president, Wong Chi-huey, was accused of having sold shares in OBI Pharma he had given to his daughter.
Wong has staunchly denied any involvement, including during a meeting with President Ma Ying-jeou Friday. He is also likely to face questioning by lawmakers as early as Monday.
While Wong was meeting with Ma, the Shilin District Prosecutors Office in Taipei City was questioning Chang and eight other suspects and witnesses, while teams of investigators raided seven locations, including OBI Pharma [FULL STORY]headquarters.