News
TAIPEI — Three venture capital fund executives have been arrested on insider trading charges related to Jabil Circuit's acquisition of Green Point earlier this year.
WK Technology Fund chairman Ko Wen-chang, president Ho Cheng-ching and vice president Li Jung-hsun face a minimum seven years in prison and more than $16 million in fines, according to published reports. They also are charged with attempts to block the investigation, forgery and concealment of evidence.
Per the reports, officials claim the men made about $27.4 million from the buyout. The fund was a major shareholder of Green Point, and used subsidiaries to make massive purchases of Green Point's shares ahead of the sale, according to the investigation's chief prosecutor.
MACAO – EMS provider Nam Tai Electronics announced third-quarter sales fell 6.4% year-over-year on lower demand for telecom.
TORONTO – Top tier EMS provider Celestica Inc. reversed last year’s third-quarter loss, turning a profit of $51.5 million. Revenue slumped 13% to $2.08 billion, however.
