U.S. Attorney Geoffrey Berman’s office stated that the jury of the Manhattan Federal Court of Justice had ruled that Canyon Bridge Capital Partners co-founder Benjamin Chow was found guilty of securities fraud and conspiracy. Judge Gregory Woods will be sentenced on August 20.
Benjamin Zhou's attorney has not yet responded.
Canyon Bridge said in an email: 'Although we already know this conclusion, we haven't had a chance to evaluate the court's decision. We will evaluate the situation.'
Prosecutors alleged that as a U.S. citizen born in China, Benjamin Weeks had informed a friend in 2016 that Canyon Bridge planned to acquire Ladis Semiconductor of Oregon. At that time, the deal had not yet been announced. The friend thus made a profit. 5 million US dollars.
In another lawsuit brought by the Securities and Exchange Commission (SEC) last year, the friend of Benjamin Chow was exposed to Michael Yin. The latter was a senior executive of a private equity fund in Hong Kong and later became a Only hedge fund managers.
In September of last year, US President Trump called a stop for Canyon Bridge to buy Ladis Semiconductor.
Subsequently, Canyon Bridge focused its attention on acquisition targets outside the United States. Last year, the fund acquired British chip maker Imagination Technologies for 550 million pounds (approximately US$718 million). However, this deal did not include Imagination. The subsidiary, US chip design company MIPS. MIPS was previously sold to another investment company.
According to Canyon Bridge’s website, Benjamin Weeks had previously been responsible for the private equity firm Warburgh Investments in the semiconductor industry in Asia. Two business partners stated that Benjamin Chow was Tianjin.