Is Chao Chien-ming Guilty of Insider trading?
0 voters
chinapost.com.tw/detail.asp?ID=82655&GRP=A
Chao Chien-ming the “first son in law” has been arrested for insider trading. Seems like many people close to the CSB administration has been accused of this, but Chao is grabbing the head lines with his very public arrest.
I wonder why CSB wife wasn’t arrest as well, since she is also one of the major buyers in this particular stock trade?
You need to be sued by President Chen for NT$1. In fact it was not Chao’s mother-in-law but rather his mother who was the third buyer. Usually the police don’t arrest CSB’s wife, and that’s because she doesn’t buy stocks, she buys real estate mutual funds.
Not to mention she’s wheelchair bound and her only hobby is stock trading.
More reason CSB deserves our sympathy. Poor, Poor CSB…his wife prefers stocks over him.
And from being subpoened to being arrested isn’t it a big road? And they are going to talk with him. So don’t say whatever comes to your mind and don’t be coloured when talking about serious matters.
But… can someone put here a list of people in KMT who did that? One that can fit in one page only?
No, not stocks. Real Estate Mutual Funds. Invest now so you can be arrested for insider trading when the market takes off after the MRT additions are completed.
Well, I wonder if they are coming to arrest my wife, because she plays in the stock market and has funds, and, incredibly, she has made money out from it.
Ah, and I voted no, because who are we to pass judgment on this subject.
mr_boogie,
Unless your really the president of ROC, I don’t think you need to worry about your wife’s speculation in the market.
So why should he? There is nothing in the law that forbids the first family of using their money as they want, as long as it is not illegal…
Really, all this thing is caused by a guy who should be in jail and, because of his party protection, still is roaming around telling bs. And the worst part is that the blue media is going with him, because that is their interest. If the first lady has the money to play in real estate funds, why not? Jesus, there will be so many new MRT lines, that if she decides to buy some terrain near a future one people will say that there is inside information (because absolutelly no one has access to the future map of the mrt, does it?).
(http://www.dorts.gov.tw/english/Network/route/Route1_frame.asp?stage=S2&line=x&Sta=x)
And in the end, I guess that the best is for the first lady to have a talk show and tell people how to invest money.
[quote=“mr_boogie”]So why should he? There is nothing in the law that forbids the first family of using their money as they want, as long as it is not illegal…
[/quote]
Unintentional humor, I take it? There’s nothing in the law against anything that’s not illegal.
I don’t know how it’s done in Portugal, but in the rest of the world, what the first family is accused of doing is absolutely illegal. There’s a reason why the President was expected to set up a blind trust, and it’s not just because people enjoy seeing Chen Shui-bian suffer.
You can say imoral, but not illegal (unless anyone can prove that there where some dubious information arriving to them, and they profitted from it).
And no, in Portugal and in the rest of the world, we don’t go to shitty banks (and specially banks don’t call the media to tell their costumers possessions). No, we go directly to UBS, Deutsche-Bank, ABN-Amro, Merryl Lynch, and so on, and we put our money in private banking. So absolutelly no one will ever know what the hell they do with their money. What it is most amazing in this story is how the information is sent into the media (really, Taiwan banks have 0 credibility). But like in the case of CSB trip, no one can be trust in Taiwan (no even the control tower).
My company works with UBS, because their worlwide service is most remarkable, but as I moved to Taiwan and wanted to open a company account over here - amazingly, the woman told me that they couldn’t open a company account because they don’t have permission to do so, but if I wanted to open a personal account (and they checked my company for information) they would most certainly help me.
Yet another of your classic comments, mr_boogie… sort of along the lines of “it’s not against the law (unless it’s illegal)”.
You can say imoral, but not illegal (unless anyone can prove that there where some dubious information arriving to them, and they profitted from it).
Isn’t that a rather obvious statement?
I don’t know how it’s done in Portugal, but in the rest of the world people are first arrested on suspicion of the crime so that they can be investigated. A final judgement is then determined in a court of law. We will know then whether the action was illegal or not, by whether the use of insider information was proven.
In this case, there’s the semblance of insider trading, in the form of private stock transactions between a public company and a few select individuals who conceivably had access to policy information the general public did not.
What part of this is confusing or controversial for you?
As far as this whole “doing whatever you want by putting money in private equity”… I think you need to study the laws of your own country a little more. Every OECD country has laws that guide conflict of interest issues for elected officials. I don’t know what sort of disclosure laws there are, but in the United States, the President/VP both must put all of their assets in a (real) blind trust, and also publicize their tax returns for public scrutiny.
It’s possible Portugal’s still too backward to have gotten that far in its legal system.
If your husband can make the stock market go up for down just with a few words, you probably shouldn’t be playing the stock market.
Why hasn’t President Chen come out with a statement yet?
Is he unsure of whether his son-in-law is guilty, and withholding comment as a result?
I think something along the lines of “We’ll trust the legal system to make the correct judgment” and “He’s my son in law and father of my grandchildren. I care deeply about his welfare. If he’s guilty, he’ll pay the price. If he’s judged innocent, we’ll welcome him back home.”
Why is the President silent thus far?
[quote=“Tomas”]Why hasn’t President Chen come out with a statement yet?
Is he unsure of whether his son-in-law is guilty, and withholding comment as a result?
I think something along the lines of “We’ll trust the legal system to make the correct judgment” and “He’s my son in law and father of my grandchildren. I care deeply about his welfare. If he’s guilty, he’ll pay the price. If he’s judged innocent, we’ll welcome him back home.”
Why is the President silent thus far?[/quote]
Honestly, its the job of the president to be a public figure too. But on the other hand, I often don’t have time to respond to e-mails as president of my own company; because I’m busy doing my job.
Maybe the president wants to see where this is going to.
If the guy got inside information and profited from it, then he has to be responsible and be judged by what he did. No more no less. But I still see to many information in this matter that doesn’t match (really depends on the newspaper), so the best is to wait and see. Anyway, I would say that if the guy was making questions about banks selling out shares or whatever, he was way out of his line of duty.
But, this again, has nothing to do with Bien (or does he have to put a leash in all of his family)?
asia.reuters.com/news/newsArticl … ived=False
Chen, whose approval rating has sunk to new lows, reiterated on Wednesday he “respected the judiciary’s and the bureau’s independence 100 percent” and would not cover up wrongdoing.