Asset managers detained in labor fund bribery case
EXPANDED INVESTIGATION: The Taipei District Prosecutors’ Office has conducted raids on the residences of two suspects; five suspects have been detained in the case
Staff writer, with CNA
The Taipei District Court on Friday ordered that PJ Asset Management CEO Daniel Tarng (唐楚烈) and three others be detained with restricted communication as part of a growing investigation into the alleged bribery of a Ministry of Labor funds manager in a stock manipulation scheme.
The court approved a request by the Taipei District Prosecutors’ Office to detain Tarng and PJ Asset Management executive Chiu Yu-yuan (邱裕元), as well as Fuh Hwa Securities Investment Trust Co chief investment officer John Chiu (邱明強) and Fuh Hwa asset manager Marco Liu (劉建賢), for suspected breaches of the Securities and Exchange Act (證券交易法).