It looks like the Kedah-born 'Father of Pendrive' is appealing against a jail sentence in Taiwan.
Last October 29, Phison Electronics Corp founder and chairman, Datuk Pua Khein-Seng was convicted by a Taiwan district court under Article 171 of the Securities and Exchange Act.
He made false company reports and was sentenced to two years in prison. However, Pua is seeking to appeal against the sentence.
According to Phison, Pua had made some "special business arrangement" when struck by stiff competition during the 2008 financial crisis.
The case was first investigated in August 2016, and ended up with a penalty of NT$110 million (RM16.3 miilion) imposed on Pua.
Investigation restarted when there were allegations that Pua transferred funds to a Hong Kong subsidiary to free up cash flow & reduce the financial cost of his company.
Pua is currently appealing the conviction while resuming settlement discussions with the Securities and Futures Investors Protection Centre.
