Friday, July 11, 2014





Taiwan scandal linked to state stock investment


February 19. 2013 5:04PM
Story Tools
PrintPrint | E-MailEMail | SaveSave | Hear Generate QR Code QR
Send to Kindle


(AP) Taiwanese authorities are investigating the operations of four state-owned funds that incurred huge losses on the local stock markets in the wake of a scandal involving one of them.


Premier Sean Chen said Tuesday financial regulators are looking into massive stock transactions made with money from the funds to try to detect any irregularities. The funds lost a total of 90 billion New Taiwan dollars ($3.1 billion) in stock trading last year.


Last week, prosecutors accused a dealer of ING Securities a member of the ING Group of breach of trust in handling stock investments on behalf of a government labor pension fund.


It charged Hsieh Ching-liang of buying into a listed company's stock when its price was low, and then using government money to artificially inflate the stock's price so he could make money on his original purchases.


Associated Press


Comments
comments powered by Disqus Commenting Guidelines
Poll
Mortgage Minute


Search for New & Used Cars

Make 
Model
 
Used New All
 

Search Times Leader Classifieds to find just the home you want!

Search Times Leader Classifieds to find just what you need!

Search Pet Classifieds
Dogs Cats Other Animals



Social Media/RSS
Times Leader on Twitter
Times Leader on Youtube
Times Leader on Google+
The Times Leader on Tumblr
The Times Leader on Pinterest
Times Leader RSS Feeds