Listed Company Chairman Questioned by Prosecutors for Alleged Stock Price Manipulation to Support Share Price

(Central News Agency Reporter Lin Chang-shun Taipei, July 7) Prosecutors received a report that the head of a listed concrete company, surnamed Jian, allegedly manipulated stock prices through matched orders to support the company's share price. The Taipei District Prosecutors Office today directed the Investigation Bureau to conduct searches at seven locations and question Mr. Jian and four relatives and friends.

Investigators received a tip that Mr. Jian, between January and February 2021, used accounts belonging to relatives and friends to engage in matched orders to inflate the stock price in an effort to support the company's share price. He is suspected of violating the Securities Transaction Act for stock price manipulation.

Taipei District Prosecutors Office today directed the Taipei City Investigation Office of the Ministry of Justice's Investigation Bureau to execute search warrants issued by the court at a total of seven locations, including the residences of Mr. Jian and four relatives and friends, as well as Mr. Jian's office. Mr. Jian and the other three individuals were summoned for questioning. (Editor: Hsiao Po-wen) 1150707

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