TAIPEI, Taiwan (AFP) — Three directors on shipping giant Evergreen Marine Corp’s board are among nine people suspected of insider trading, a Taiwanese prosecutor said Tuesday.

Investigators questioned the suspects on Monday after raiding 10 locations, including the premises of Evergreen Marine, the Taipei District Prosecutors Office said.

The case stems from a complaint filed in 2024 over the alleged trading of shares during a “prohibited trading period,” the office said.

Three board directors, including Chang Kuo-hua, Ko Lee-ching and Tai Jiin-chyuan, and Chang’s family members are among the suspects, said deputy chief prosecutor Kao I-shu.

Six people were released on bail, including Chang, who paid NT$120 million ($3.7 million) bail and has his phone monitored.

Chang is a billionaire and the eldest son of the late Evergreen Marine founder Chang Yung-fa, according to Forbes.

Ko Lee-ching and two others were freed without bail as prosecutors considered their involvement in the alleged insider trading to be limited, Kao said. 

Evergreen Marine said in a statement on Monday that it was cooperating with the investigation.

“This incident has no significant impact on the Company’s financial condition or business operations,” the statement said.

Evergreen Marine was started by Chang Yung-fa in 1968 and describes itself as one of “the world’s leading international shipping companies” with a fleet of more than 200 containerships, according to its website.