Electronics Production |
VC bosses involved in Jabil purchase arrested
A venture capitalist at Taiwan’s largest Venture Capital Fund WK Technology Fund has been arrested for making profits with insider information about the pending purchase of Green Point Enterprise by Jabil Circuit.
Jabil acquired Taiwan based Green Point Enterprise for about 620 million Euros a year ago. Wen Ko, chairman of WK Technology Fund, was detained Wednesday with two other company executives for making profits of up to 2.1 million Euros on the buyout, Associated Press reported.
Ko bought shares in Green Point before the deal was made public and then sold them after the deal was revealed, according to the prosecutor. Green Point's shares rose more than 10 percent in the month following the acquisition.
