Motherboard maker Epox under investigation for alleged fraud

Vikingod · Mar 17, 2006, 01:57 PM

Second-tier motherboard maker Epox Computer was under investigation for alleged involvement in fraudulent transactions and embezzlement of the company’s funds, according to sources at the Prosecutors Office in Panchiao City, northern Taiwan.

Officials of the Prosecutors Office on March 15 raided Epox for evidence and also summoned company chairman Steve Hsiao to report the company’s transactions with its overseas subsidiary, E-Kong, the Chinese-language Economic Daily News reported today. Hsiao was released on bail of NT$300,000 (US$9,230), the paper noted.

Hsiao might have embezzled a total of NT$840 million from Epox to E-Kong from 2001-2003 through fraudulent trading and internal financial transactions, the paper said, quoting sources at the Prosecutors Office. The Virgin Islands-based E-Kong was set up by Hsiao personally in 2000, it noted.
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Read More / Source: DigiTimes

Mar 17, 2006, 01:57 PM	#1
Vikingod Int'l Fish Liaison Join Date: Jul 2004 Location: By the light of lamp I sit and type... Posts: 16,197 Rep Power: 112 System Specs	Motherboard maker Epox under investigation for alleged fraud Second-tier motherboard maker Epox Computer was under investigation for alleged involvement in fraudulent transactions and embezzlement of the company’s funds, according to sources at the Prosecutors Office in Panchiao City, northern Taiwan. Officials of the Prosecutors Office on March 15 raided Epox for evidence and also summoned company chairman Steve Hsiao to report the company’s transactions with its overseas subsidiary, E-Kong, the Chinese-language Economic Daily News reported today. Hsiao was released on bail of NT$300,000 (US$9,230), the paper noted. Hsiao might have embezzled a total of NT$840 million from Epox to E-Kong from 2001-2003 through fraudulent trading and internal financial transactions, the paper said, quoting sources at the Prosecutors Office. The Virgin Islands-based E-Kong was set up by Hsiao personally in 2000, it noted. _____________ Read More / Source: DigiTimes