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Former execs of Yuanta sentenced to jail for unlawful trading

The Supreme Court of Taiwan sentenced two former executivesof Yuanta Financial Holdings Co.Ltd. to jail for engaging in irregular trading, The China Post reported July 1.

Former Yuanta Financial Chairman Rudy Ma and his wife, aformer chairperson of YuantaSecurities Co. Ltd., were sentenced to seven years and four monthsin prison.

The supreme court found that the couple had caused losses toYuanta Securities and its shareholders, warranting jail time. The couple wasestimated to have unlawfully gained about NT$3.4 billion from the trading.

As of July 1, US$1 wasequivalent to NT$32.21.