(Linkleri Üyelerimiz Görebilir. UslanmaM Üyeliği İçin Tıklayın) - In an open letter to the media and customers BenQ Chairman K.Y. Lee Thursday defended his company over allegations of insider stock trading and said its CFO is innocent.
The letter comes just two days after officers from the Taoyuan District Prosecutor's Office raided BenQ offices and detained three executives over alleged insider stock trading and irregularities in the payment of stock options to overseas employees.
Two of the executives have been released on bail but the third CFO Eric Yu 51 remains in custody a BenQ representative confirmed.
"Contrary to media speculation that BenQ might be involved in insider trading or irregularities involved in the selling/buying of stock this speculation is false" Lee wrote in the letter. "Negative media stories about Mr. Eric Yu are baseless and untrue...Eric has selflessly served BenQ for many years and I believe that his name will be cleared as soon as possible."
The Taoyuan District Prosecutor's office alleges that some company executives sold off shares of stock ahead of announcing a loss in the first quarter of last year caused by troubles related to its takeover of BenQ Mobile OHG the German mobile phone division it obtained from Siemens AG in 2005 as well as stock options problems.
Lee said the allegations have affected the company's longstanding reputation and raised concerns among customers employees and the public therefore he wrote the letter to clarify the allegations and media speculation.
"While these are serious allegations we respect the legal process and will cooperate aaaay with the ongoing investigation. We trust that the results of the investigation will vindicate BenQ of any wrongdoing" Lee said.
The allegations caused BenQ shares to drop 6.8 percent to end Wednesday at NT$13.05 (US$0.40) on the Taiwan Stock Exchange. But on Thursday its shares rebounded gaining 6.9 percent to end at NT$13.95.
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