Taiwan TV host testifies in stock scandal
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TV host Xu Xidi testifies at a court in Taipei, Taiwan province on July 3, 2014. [Photo/IC] |
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Xu Yajun, Xu Xidi's husband and the head of Top Pot Bakery is charged with violating the Securities and Exchange Act.
Last year, the company was found using artificial flavoring in products it advertised as "all-natural."
Further investigations found that Xu Xidi's husband and father-in-law, along with three senior management employees at Genome International have sold company stocks and profited from insider trading.
The five suspects are said to have avoided financial losses totaling nearly 60 million new Taiwan Dollars, or 12.5 million yuan. .
According to the Taiwan media, Xu Yajun may be sentenced to three to ten years in prison.
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