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Top BenQ executives were indicted yesterday, May 8, on charges of money laundering and insider trading. The Taoyuan Prosecutors’ Office released a statement accusing chairman KY Lee, president Sheaffer Lee, vice president Eric Yu and two senior financial executives of said crimes. The Commercial Times reports that the Chairman, President, and VP instructed a group of financial employees to sell bonus shares, worth $25.5 million to a BenQ branch in Malaysia, Creo Ventures. The revenue from the sale of these bonus shares were then transferred back to BenQ’s coffers, which can be construed as money laundering.
BenQ asserts that Creo Venture has been used to distribute bonus shares to its overseas employees, a fact that the Taoyuan Prosecutors’ Office had not taken into account.
It seems that top executives these days are getting indicted left and right for some sort of stock scandal. We hope BenQ will weather this storm and continue to bring us more great phones.
via: digitimes
About The Author
Will Park
Will hails from The City of Angels - Los Angeles, California. He spends his time playing with his numerous gadgets and looking forward to seeing what future holds for mobile technology. An avid promoter of a fully "digital" life, he promotes the widespread adoption of truly mobile, paper-less living. He dreams of the day when he can go completely digital. No more snail mail, paper receipts, bound books, notepads/spiral notebooks, credit cards, hard currency. He's a digital warrior - fighting for the converged life. He is an idealist and a realist - he has a perfect view of what the world should be but knows that the world is not perfect. Can we ever hope to see Will's dream become reality? We'll see...
