E-Malt.com News article: 2160

Chile: SVS, the Chilean securities regulator, is to investigate possible fraudulent trading in shares of Compania Cervecerias Unidas, the Chilean beverage company. The investigation will be conducted alongside one into share trading in the natural gas distributor Gasco SA, Just-sites.com Ltd posted on February 9.

The Dow Jones newswire quoted a SVS spokeswoman saying that the regulator is investigating the responsibility of the DCV, the central securities deposit, and the companies in possible frauds that affected a "relatively reduced number of shareholders in both companies," the spokeswoman said.

She went on to say that although the companies and the DCV may be guilty of some negligence, the fraud was committed by white-collar criminals outside these institutions.


11 February, 2004