Dee Hsu's father-in-law admits to insider trading charges

Dee Hsu's father-in-law admits to insider trading charges

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.

Purchase this article for republication.

BRANDINSIDER

SPONSORED

Most Read

Your daily good stuff - AsiaOne stories delivered straight to your inbox
By signing up, you agree to our Privacy policy and Terms and Conditions.