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April 28, 2017

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Ex-Procomp Informatics chairwoman begins jail term

TAIPEI, Taiwan -- Former chairwoman Sophie Yeh of Procomp Informatics Ltd. said yesterday that she will start to serve a 14-year prison term today based on a final verdict by the Supreme Court in connection with accounting fraud at the chipmaker.

Yeh made the remarks during a trial session held yesterday at the Taiwan High Court to deal with another lawsuit against her embezzlement of Procomp assets, as she asked High Court judges not to hold intensive sessions from today on.

The Shihlin District Prosecutors' Office, which is responsible for enforcing Yeh's imprisonment, declined to reveal the exact date for Yeh's imprisonment, but noted that Yeh will present herself to the office at 10 a.m. today for simple interrogation before serving the sentence.

The Supreme Court issued its final ruling at the end of November on Yeh's accounting fraud case, upholding an original verdict issued by the Shihlin District Court on Dec. 12, 2005.

The district court sentenced Yeh to 14 years in jail and imposed a fine of NT$180 million for her role in a NT$7 billion accounting fraud at Procomp.

The punishment was one of the harshest given in the huge accounting scandal, which has also led to the convictions of 27 other executives at Procomp, once Taiwan's largest maker of gallium arsenide epitaxial-based (GaAs) communications chips used in mobile phones.

The scandal came to light after chipmaker Procomp filed a restructuring plan in the summer of 2004 amid financial difficulties, as it defaulted on a bond payment of NT$6.3 billion in June of 2004. More than 10,000 victims lodged damage claims for a total of some NT$6 billion.

Procomp was delisted from the local bourse in September 2004 because of the accounting fraud.

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