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Venture Capital - Thursday, October 25, 2007

Taiwan VC Arrested For $3M Profit In Insider Trade

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Wen Ko, chairman and founder of Taiwan's WK Technology Fund, was detained Wednesday with two other company execs for making profits of up to $3M that may have come thanks to insider knowledge of an M&A deal.

Jabil struck a deal last November to acquire Taiwan's Green Point Enterprise for about $880M. Ko bought shares in Green Point before the deal was made public and then sold them after the deal was revealed, says a prosecutor in Taiwan. WK Technology is Taiwan's largest venture capital company. The fund has invested in more than 240 startup companies, of which some 100 have gone public. Portfolio companies include Aruba Networks and Ruckus Wireless.

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