Optoelectronics Employee and Spouse Indicted for Procurement Fraud in Hsinchu

The Hsinchu District Prosecutors Office announced on the 30th that an employee of an optoelectronics company and her spouse have been indicted for violating the Securities and Exchange Act and for breach of trust. The employee, surnamed Hong, who had been in charge of procurement since 2001, conspired with her husband, surnamed Hsiao, to hide a conflict of interest. Hsiao established an electronics company in 2008, which they used to sell materials to Hong's employer at inflated prices. Between 2008 and 2023, the total procurement amount reached approximately 166.72 million TWD, resulting in illicit gains of approximately 28.98 million TWD for the couple. Prosecutors have seized 11 million TWD from the couple's accounts and are seeking the forfeiture of all illicit gains.