BenQ top executives freed on bail, paper says
Apr 12, 2007
BenQ's chairman KY Lee and president Sheaffer Lee were released on bail of NT$15 million (US$453,200) and NT$10 million, respectively, after being interrogated by prosecutors on April 11 over their alleged involvement in insider trading of company shares, according to an April 12 Chinese-language Commercial Times report.
The two executives were listed as defendants on charges of violating the Securities Transaction Law in connection with the sale of seven million BenQ shares by the company's employees, the paper quoted sources at the prosecutors' office as saying. Both executives denied involvement in insider trading with KY Lee stressing that the sale of the company's shares was aimed at protecting the interest of its employees, according to the paper.