Procomp Informatics was a Taiwanese company that manufactured gallium arsenide, an important material for semiconductors. The company listed on the Taiwan Stock Exchange (TWSE) in 1999. The company’s management faked sales using transactions with related parties, and embezzled the funds raised by the company. The fraud was detected when the company unexpectedly defaulted on a convertible bond in 2004. The chairwomen and 29 other employees were convicted for accounting fraud and the stock was delisted from TWSE in September 2004. This is a confirmed accounting fraud.

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