TAIPEI (TVBS News) — Liu Tsang-wu, a member of the Food and Drug Administration's vaccine review committee, was found guilty of leaking confidential information by the Shihlin District Court on Wednesday (Sept. 6).
Liu received a three-month prison sentence, commutable to a fine, along with a two-year probation and an additional penalty of NT＄200,000 for public use.
In July 2017, following Liu's involvement in the emergency use authorization of a COVID-19 vaccine developed by Medigen Vaccine Biologics Corp. (MVC), he leaked information to his wife, Shih Ting-fang.
Upon receiving the news, Shih spent NT＄2.615 million purchasing 20 MVC shares. She sold the shares in tranches on July 23 and July 26, earning NT＄151,000 through insider trading.
Shih was sentenced to 18 months in prison and ordered to pay a fine of NT＄1 million for public use, with a four-year probation.
Although Liu, due to his position, was privy to insider information, the prosecutors ruled that there was no concrete evidence proving that he assisted his wife in trading shares. However, Liu was indicted for leaking confidential information.
Shih's attorney has requested leniency on the grounds that Shih was unfamiliar with the laws and there were no victims in the insider trading case. Both Shih and her attorney have requested a suspended sentence, promising no future reoffenses.
