Stan Hung, the recently appointed chairman of Taiwan chipmaker United Microelectronics, is being investigated for alleged insider trading, prosecutors said on Wednesday, landing a blow to already fragile sentiment among the company’s investors.
Prosecutors searched the headquarters of the world’s second-largest contract chipmaker in Hsinchu and questioned Mr Hung and a number of staff in charge of UMC finances on Wednesday, said Lo Hsueh-mei, spokeswoman at the Hsinchu Prosecutors’ Office.
