Reported 8 months ago
Former chairman Huang Wenlie of Kangyo-KY, once regarded as the king of biotech stocks, was sentenced to 25 years in prison and fined 2 million New Taiwan Dollars under the Securities and Exchange Act for illegally obtaining 20.1 billion NTD through fraudulent manipulation with Wang Mingliang, an Indonesian-Chinese real estate tycoon. Huang was extradited back to Taiwan from Thailand last year and had illicit gains of over 204.7 million USD and 6.7 billion NTD confiscated. The case is open to appeal, with other key defendants receiving sentences ranging from 2.5 to 9 years in prison.
Source: YAHOO