Executive accused of bribery out on bailSTOCK MANIPULATION: The PJ Asset Management Co executive allegedly told a labor fund manager that he would pay him for buying shares at above market pricesStaff writer, with CNAA PJ Asset Management Co executive accused of bribing a Ministry of Labor official in charge of managing a labor fund was yesterday released after posting NT$300,000 (US$10,413) in bail, the Taipei District Prosecutors’ Office said. The executive, surnamed Chiu, allegedly bribed ministry official Yu Nai-wen (游迺文) to manipulate select stocks by making purchases from the labor fund’s pool of money, prosecutors said. PJ Asset Management Co executive, surnamed Chiu, is escorted by police to the Taipei District Prosecutors’ Office in the city’s Shilin District for questioning yesterday. Photo: Chien Jung-fong, Taipei TimesThe charges came yesterday after the prosecutors’ office launched a second investigation into the case. In the first investigation, prosecutors found that Yu spent NT$150,000 to NT$220,000 per month on credit card purchases from September 2012 to September.

Source: Taipei Times November 28, 2020 15:56 UTC