Ex-Taiwan academy head on bribes charges
Print Edition
WONG Chi-huey, the former head of Academia Sinica, Taiwan’s national academy, has been charged with taking bribes from biotech firm OBI Pharma.
Prosecutors claim Wong had received 3 million shares from OBI’s chairman Michael Chang in 2012 via his daughter’s account. The share price was NT$31 (US$1), but it surged to NT$310 when the company went public the following year.
Prosecutors said Wong, as a public servant, illegally earned profits of around NT$93 million.
The case came to light in February 2016 when OBI announced that its major breast cancer medicine had failed to meet medical standards, and its share price collapsed. Wong defended the drug and backed the company, claiming he had never bought any OBI shares. However, his daughter was later found to be holding a large number of OBI shares.
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