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Excessive business trips, with no one caring whether they are effective; now there is also AI writing reports, making it easy to claim expenses
Insider trading can get you arrested~~
Kuan Chuan Telecom insider trading case... Chairman and vice chairman confess and surrender criminal proceeds; Taipei prosecutors indict them and request reduced sentences
2026-03-26 11:14 United Daily News／Reporter Hsiao Ya-chuan／Taipei instant report
NetComm, an Australian customer of Kuan Chuan Telecom (8089), underwent liquidation and reorganization in 2024, affecting more than NT$100 million. Jen Kuan-sheng, chairman of parent company CMC Magnetics (3047) and Kuan Chuan Telecom, and Kuan Chuan vice chairman Chiu Yu-chang allegedly bought and sold shares through the accounts of employees, relatives, and friends during the prohibited trading period, gaining more than NT$2.11 million and avoiding losses of more than NT$2.19 million. The Taipei District Prosecutors’ Office concluded its investigation today and indicted the two on suspicion of insider trading after they confessed and surrendered the criminal proceeds, requesting reduced sentences.
On March 14, 2024, Kuan Chuan announced significant information stating that it had received notice from the liquidator of customer NetComm Wireless Pty Ltd that the customer had applied for liquidation and reorganization. The amount affected by the customer’s liquidation consisted of US$626,000 in accounts receivable and NT$86.286 million in inventory prepared according to the customer’s orders, for a total impact of approximately NT$106.031 million.
Prosecutors determined that NetComm entered liquidation proceedings on March 11, 2024, after a senior vice president surnamed Wei of Kuan Chuan learned of the matter by email. Kuan Chuan’s subsequent response was limited to technical and detailed procedures such as verifying the exact amounts of accounts receivable and inventory. NetComm’s entry into liquidation proceedings constituted clear material information on March 11, and the prohibited trading period ran from March 11 through 12:10 p.m. on March 15.
The indictment states that Kuan Chuan chairman Jen Kuan-sheng learned of the material information on March 13, 2024, and allegedly used the securities accounts of uninformed employees surnamed Wu and Chang to sell Kuan Chuan shares and then buy them back. Between March 14 and 18, he gained a total of NT$1,363,070 and avoided total losses of NT$1.415 million. Kuan Chuan vice chairman Chiu Yu-chang likewise learned of the material information on March 13 and allegedly traded Kuan Chuan shares through the securities account of an uninformed niece of his spouse, a woman surnamed Huang, gaining NT$751,690 and avoiding losses of NT$781,000.
Prosecutors determined that Jen Kuan-sheng and Chiu Yu-chang were suspected of violating the Securities and Exchange Act’s insider trading provisions. Both confessed to the offenses and surrendered all criminal proceeds; prosecutors requested that their sentences be reduced in accordance with the law.