Jacky Wu sentenced to 3yrs probation for stock manipulation and asset stripping
Jacky Wu has been found guilty by the Taipei Courts of conspiring with the general manager of Lian Ming Ltd and 10 other individuals to illegally strip the listed company of its assets.
The amount involved is more than NT$200mil (S$8.3mil). The group has also been found guilty of manipulating the stock price for a gain of about NT$30mil (S$1.25mil).
Jacky Wu in his defense has previously said that he was dragged into the case by trusting his long-time friend, the general manager, and that he was innocent.
Jacky Wu has been given a sentence of 1 year and 10 months in jail, suspended for 3 years. This means that he will be put on probation for 3 years and doesn't need to go to jail if he does not recommit any offense during this period. The jail term will usually be dismissed 3 years later.
He also has to pay a fine of about S$125,000 in addition to the probation.
Jacky Wu, as a top variety show host, owns several sports cars and properties in Taiwan, with values easily exceeding the above amounts. He really did not have to be involved in this unfortunate case.
Jacky Wu's daughter Sandy Wu, trying out hosting with her father.
吴宗宪涉掏空公司案被判1年10个月 缓刑3年 (Flash player required)