Chairman of Yonggu-KY Granted Bail of NT$800,000 on Suspicion of Stock Manipulation for Market Support

(Central News Agency, reporter Lin Chang-shun, Taipei, July 8) Prosecutors and investigators received a report that Jian, the chairman of the listed company Yonggu-KY, allegedly manipulated stock prices through matched orders to support the stock. The Taipei District Prosecutors Office summoned Jian and four relatives and friends yesterday. Early this morning, Jian was released on bail of NT$800,000, with restrictions on leaving the country and going offshore.

In addition, Jian's elder sister was granted bail of NT$100,000, and his younger sister was granted bail of NT$200,000. Jian's friend, surnamed Zheng, was granted bail of NT$200,000.

Yonggu-KY issued a major announcement yesterday stating that the Investigation Bureau of the Ministry of Justice conducted searches and investigations at the company, and the company is fully cooperating with the investigation. The company's operations are normal and have no significant impact on the company's financial business.

Prosecutors and investigators received a tip that Jian, between January and February 2021, in order to support the company's stock, used accounts of relatives and friends to conduct matched trades to drive up the stock price, allegedly violating the Securities and Exchange Act for stock manipulation.

Yesterday, the Taipei District Prosecutors Office, under the command of the Taipei City Investigation Division of the Investigation Bureau of the Ministry of Justice, executed search warrants issued by the court to search the residences of Jian and four relatives and friends, as well as Jian's office, a total of seven locations. Jian and the other three were summoned to appear for questioning. (Editor: Chang Ya-ching) 1150708

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