Reported 8 months ago
Former chairman of the biotech stock 'Kangyo-KY' manipulated stock prices, leading to the loss of over 201 billion. Huang Wenlie was sentenced to 25 years in prison, with a fine of 2 million, while former legislator Wu Guangxun was sentenced to 8.5 years. Among the total of 29 defendants, 26 were found guilty, including Chen Yulian, Chen Heshun, accountants Shi Jingbin and Jiang Mingnan, receiving sentences ranging from 2.5 to 9 years. Huang was accused of concealing the poor performance of a Chinese subsidiary, using assets as collateral, and manipulating Kangyo stock prices with a Chinese real estate tycoon. After fleeing Taiwan in 2020, Huang was apprehended in Thailand in 2023 and extradited back for trial.
Source: YAHOO