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Head of Taiwanese Chip Maker Under Investigation

Jan 17, 20061 min
CSO and CISOData and Information Security

Taiwanese prosecutors have filed charges against the chairman of Taiwan’s ThaiLin Semiconductor Corp. on suspicion he illegally used the company’s money for his own purposes.

The Taipei District Prosecutors Office leveled the charges late last week, accusing S.J. Cheng, who is also the chairman and CEO of chip packaging and testing company ChipMOS Technologies (Bermuda) Ltd., of misappropriating funds that were part of an overseas bond issuance in 2003 by ThaiLin.

In a statement late Monday, ThaiLin denied any wrongdoing by Cheng, and said the charges stem from the purchase of around US$5.9 million in overseas notes during the period of time in question. Aside from fact a transaction took place, “there is no other evidence Chairman S.J. Cheng personally profited from the transaction,” the statement said.

By Dan Nystedt – IDG News Service (Taipei Bureau)