TAIPEI, Taiwan -- District prosecutors yesterday said Hsu Hsun-ping (徐洵平), chairman of Genome International Biomedical Co. Ltd. (GIBC), admitted during a questioning session that he participated in insider trading.
From Wednesday morning through to Thursday morning the Taipei District Prosecutors Office questioned Hsu Hsun-ping, his wife Jiang Li-fen (姜麗芬), talk show host Dee Hsu's (徐熙娣, also known as Little S) husband Mike Hsu (許雅鈞), and her father-in-law Hsu Ching-hsiang (許慶祥) over allegations of gaining profits through insider trading.
The four of them hold GIBC shares.
The four were released yesterday morning on bail of between NT$2 million (S$85,000) and NT$5 million (S$212,500), and were ordered not to leave the country.
The prosecutors' office said that aside from Hsu Hsun-ping, the other three denied the allegations.
During the questioning session, Hsu Hsun-ping admitted to the charges to prosecutor Kao Yi-shu (高一書) and said he was willing to return the gains made through illegal trading in exchange for a reduced punishment.
In August, the prosecutors' office investigated a case of false advertising concerning the Top Pot Bakery chain. In its advertisements, the bakery claimed that its products were made with zero artificial essences, later found to be a false claim. Prosecutors later discovered what they alleged to be illegal trading involving GIBC, the bakery's holding company.