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Friday, April 13, 2007

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Another tycoon runs

Here we go again. The major financial new services are reporting that Inventec Appliances has been raided for alleged insider trading.

The China Times is reporting that Inventec's Chairman Zhang Jing-song (張景嵩) mysteriously left Taiwan at 2:00 am last night while the raid was still going on. Inventec's CEO is also missing.

The insider trading charges reportedly stem from charges that company management sold shares in the firm before releasing news that iPod orders from Apple had decreased by 40%.

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