Taipei, Oct. 16 (CNA) The general manager of TTY Biopharm Co. Ltd, Robbin Shih (施俊良), who is alleged to have been involved in insider trading of his company's shares late last year, was released on a NT$3 million (US$107,142) bond early Saturday.
A TTY Biopharm Co top executive accused of insider trading was yesterday released on NT$3 million (US$107,040) bail, prosecutors said.
Robbin Shih (施俊良), general manager of the Taipei-based drug maker, was among 26 people questioned by investigators on Friday after raids on nearly 30 locations, including TTY Biopharm’s offices and executives’ homes.
Fifteen of the people were released on bail, including Shih and Allen Chu (屈至源), head of TTY Biopharm’s intensive care business unit. Chu posted bail of NT$2 million. The others were released without conditions imposed on them.
Chen Yen-chang (陳彥章), head prosecutor of the Taipei Shilin District (士林) Prosecutors’ Office, said