Taisun Enterprise (TPE:1218) and its four executives, including chairman Liu Weilong, have been indicted by Taiwan's Taichung District Prosecutors Office over an investigation into salad oil containing excessive levels of benzopyrene.

Prosecutors allege the parties failed to stop sales, recall affected products and report the issue after becoming aware of the excessive benzopyrene levels, according to a Thursday Taiwan Exchange filing.

The indictment also includes allegations of selling food containing substances harmful to human health and fraud.

The prosecutors are seeking a fine against Taisun of up to 10 times the amount stipulated under relevant provisions of Taiwan's Food Safety Act, while the company's alleged illegal gains were calculated at NT$130.2 million. The final amount will be determined by the court.

Taisun said its business can continue normally and Liu can remain in his position pending a final court judgment. The company will engage legal counsel to defend its rights, it said.