A venture capital mogul in Taiwan begins a nine-year prison sentence for insider trading today with s US$3 million fine. He issued a statement yesterday denying the charge and expressed gratitude for support of the business sector spearheaded by founders of leading companies in Taiwan that are well respected. He still has faith in the judicial system to clear his name through relief proceedings and called on his staff to get down to good work and stay until he gets out.
The inside trading conviction was based on anon-binding letter of intent from a US company to buy the company that he served as a director back in 2oo6.The court claimed insider knowledge of the culprit who made illicit gains close to US$15 million from stock trades.The business sector contended that the court was wrong and contradictory to international merger and acquisition laws. The mongul was once the chairman of Hewlett Packard Taiwan and had contributed a lot to Taiwan’s high-tech sector, the verdict would deal a serious blow to confidence in the private sector.
“How can I know what I say I know is actually what I don’t know? Likewise, how can I know what I think I don’t know is not really what I do know? ” Chuang Tzu.
Malawian prisons are notorious for their poor hygiene, overcrowding and spread of disease, inmates are imprisoned for crimes ranging from murder, burglary to witchcraft, one in 20 inmates die each year. Grammy-winning producer Ian Brennan and wife recorded an album there in 2013 and it was nominated for 2016 Grammy along with the daughter of late sitar maestro Ravi Shankar.
There were accusations of its celebration of criminals but Brennan claimed it was a humanising act. Some prisoners have been proved innocent and released, others are caught up in bureaucracy for years while some people are in for life, for murder.
“This is the place where I discovered my potential,” A convicted thief-performer said. “I always tell myself that if I were outside, I would have been killed or faced something terrible…But I am glad to be part of the people that have put Malawi on the map.”
“How can I tell how things are? How can I tell how things are not?” Chuang Tzu.