Evergreen Heirs, Executives Released on Bail in Insider Trading Case
Several high-level employees and heirs of shipping giant Evergreen have been released on bail after being questioned over insider trading allegations. Chang Kuo-hwa, the eldest son of Evergreen founder Chang Yung-fa, paid around US$3.7 million in bail. Chang and at least eight others are accused of netting approximately US$65 million through trades made in 2023 using insider information about the global logistics company.
Evergreen Heirs Released on Bail Over Insider Trading
REPORTER:
Evergreen Group president UNIDENTIFIED PERSON has been released on bail after being questioned for insider trading.
After paying 3.7 million US dollars in bail, UNIDENTIFIED PERSON, the eldest son of Evergreen Group founder UNIDENTIFIED PERSON, was among nine suspects released and placed under electronic monitoring. The suspects include UNIDENTIFIED PERSON’s immediate family members and Evergreen executives. They are accused of making huge trades in Evergreen-affiliate shares in 2023 before material information was released, netting around 65 million US dollars in profits.
