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Panel maker executives told to surrender their passports
TOP EXECUTIVES at the panel makers AU Optronics and Qisda have been asked by the US government to surrender their passports.
LJ Chen, president of AU Optronics along with its vice chairman HB Chen and Qisda president Hui Hsiung travelled to the land of the free to claim that they were innocent of price fixing allegations.
According to Digitimes, once they arrived the US asked them to hand over their passports so they cannot flee the country.
LJ Chen, HB Chen and Hui Hsiung have voluntarily travelled to the US to attend pre-trial hearings and to declare their innocence.
Both firms' executives said they have appointed deputies until they can return and the companies have issued statements saying that the trial will have no material impacts to their operations.
The US Department of Justice is suing AU Optronics, its Houston-based US subsidiary, and six of its executives for participating in an alleged conspiracy to fix prices of TFT LCD panels. Other companies involved in the scandal have pleaded guilty and paid fines, but AU Optronics and Qisda have decided to contest the allegations.
KY Lee, chairman of AU Optronics recently told a Qisda shareholders meeting his company did not do anything wrong and will fight to clear its name. µ
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On first impressions, this KY Lee comes across as a slippery old fellow, and at the first sign of friction, they say that palms are greased liberally to help things run smoothly. He has at one time even been implicated in the Bill & Bob Johnson scandal. However, it has to be said these allegations are just rumours. He used to use his third name "Je", but then dropped it as it was too much of a mouthful!