TransAsia Airways chairman suspected of insider trading
Saturday, 28 Nov, 2016
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TransAsia Airways chairman Vincent Lim was released on bail but is still under investigation over suspected insider trading of the airline’s shares.
A police probe was launched following TransAsia’s announcement to cease all.operations last week.
Two other family members of Lim were also questioned.
Taiwan Stock Exchange chairman Shih Jun-ji said executives at TransAsia Airways sold their shares in the company on November 21, as rumors swirled the airline was in deep financial trouble.
The following day the company suspended all flight operations and then formally announced it would be wound up following an emergency board meeting.
The carrier has been operating at a loss since two damaging crashes in July 2014 and February 2015 affected sales and damaged its brand reputation.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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