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BenQ: Prosecutors request detention of chief financial officer
2007-03-14 01:03:33 THE ASSOCIATED PRESS

TAIPEI, Mar 14 (AP) -- Taiwanese electronics giant BenQ Corp. said Wednesday prosecutors have requested the detention of Chief Financial Officer Eric Yu, following an interrogation overnight.

Taiwan prosecutors searched BenQ.'s offices Tuesday afternoon after the island's financial regulator said it suspected BenQ of insider trading between January and March last year, Chang of the prosecutors office said Tuesday.

In a Taiwan Stock Exchange filing, the maker of mobile phones and consumer electronics said Wednesday an executive in the company's finance department, Liu Wei-yu, has been released on bail of New Taiwan dollars 5 million (US$156,250; €120,190).

It said another finance executive, Liu Ta-wen, has been released on bail of NT$2 million (US$62,500; €48,000).

Taoyuan District Prosecutors Office spokesman Chang Chin-feng couldn't be reached for comment Wednesday.

Financial Supervisory Commission Spokeswoman Susan Chang said the financial regulator submitted some evidence of suspicious trading in BenQ shares to the prosecutors office in December.

BenQ said late Tuesday prosecutors took away some documents related to the company's bonus payments to overseas employees when they searched its offices earlier in the day.

BenQ's shares dropped 6.8 percent to NT$13.05 Wednesday, compared with a fall in Taiwan's key index of just 1.5 percent.

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