Arrest warrants issued for 3 suspects, including Chinese businessman
By: Matthew Strong, Taiwan News, Staff Writer
TAIPEI (Taiwan News) – Gaming company XPEC Entertainment Inc. Chairman Aaron Hsu should serve
30 years in prison for having embezzled NT$4 billion (US$127.5 million), prosecutors said Tuesday.
The case has also led to the issuing of arrest warrants for a gaming tycoon from China and a Japanese national, while a former Cabinet minister and two prominent media figures were being investigated separately.
Last year, a Japanese firm announced it was going to make a bid for XPEC, leading to an estimated 30,000 Taiwanese investors buying stock in the firm, only to end with a decision by the foreign company to abandon the deal.
Due to protests by the investors, prosecutors opened an investigation during which they reportedly uncovered a conspiracy by Hsu and others to talk up the Japanese bid and made illegal profits. [FULL STORY]