SanDisk reports stolen UMC shares

October 16, 2003 – SanDisk says a former employee of its Taiwanese law firm stole approximately $100 million worth of shares in UMC, while the firm was trying to sell them to another brokerage. The 121 million shares were allegedly sold on the Taiwan stock exchange by a former legal staff member, and were discovered missing during a recent internal audit.

UMC, which supplies silicon wafers to SanDisk, received $40.3 million from the company in 1997 for an investment in one of its units.


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