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September, 30, 2016

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XPEC headquarters raided, individual directors summoned

TAIPEI, Taiwan -- Police raided the headquarters of scandal-hit Taiwanese game developer XPEC Entertainment Inc. for the first time on Friday, as prosecutors summoned its three individual directors as witnesses.

Former Economics Minister Yiin Chii-ming (尹啟銘), media celebrity and former Legislator Sisy Chen (陳文茜) and former Taipei City Deputy Mayor Lee Yong-ping (李永萍) were summoned to the Taipei District Prosecutors' Office on Friday, along with 50 other personnel, officials said.

According to the Justice Ministry's Investigation Bureau, police officers also raided the home of XPEC Chief Executive Officer Aaron Hsu (許金龍) and Bai Chi Gan Tou Digital Entertainment Co.'s Taipei office.

In a move that was unprecedented in Taiwan's game development sector, Bai Chi Gan Tou withdrew from a NT$4.86 billion acquisition deal with XPEC on Aug. 30 — a day before its payment deadline.

The Financial Supervisory Commission (FSC) filed charges against Bai Chi Gan Tou earlier this month.

Shortly afterward, prosecutors listed Hsu as a defendant accused of violating the Securities and Exchange Act. Since then, Hsu has been prohibited from leaving the country.

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Former Legislator Sisy Chen (陳文茜), left, and former Taipei City Deputy Mayor Lee Yong-ping (李永萍) are seen in this photo taken in New Taipei City on Friday, Sept. 23. (CNA)

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