Ex-TransAsia Airways chief escapes indictment in insider trading case

Taipei--Prosecutors said Monday that they have found no grounds to indict former TransAsia Airways Chairman Vincent Lin (???), as they completed an investigation into allegations of insider trading of the company's shares.

Four other people, however, were indicted, including Lin's aunt Cheng Shan-shan (???) and Ezfly International Travel Agency Chairman Chou Yu-wei (???), according to the Taipei District Prosecutors Office.

Prosecutors launched an investigation into the case after senior employees at TransAsia Airways were found to be selling their shares in the company on Nov. 21, 2016 amid rumors that the airline was about to suspend its operations.

TransAsia initially denied the rumors, but announced later in the day all flights on Nov. 22 had been cancelled.

After a special board meeting on Nov. 22, the company said it was dissolving its operations due to deteriorating finances and that all flights had been suspended with immediate effect.

Source: Focus Taiwan News Channel