Ostin Technology Board Removes Director and Forms Special Committee Amid Indictment
Ostin Technology Group Co. Ltd. announced that its Board of Directors convened a meeting on October 21, 2025. During the meeting, the Board resolved to remove Mr. Lai Kui Sen from his positions as director and Co-Chief Executive Officer of the company, effective immediately, following his indictment for various offenses, including conspiracy to commit securities fraud and wire fraud, in the United States District Court for the Eastern District of Virginia. The Board also established a Special Committee, authorized to take necessary actions in connection with these matters, and directed company officers to support the Committee as needed. Additionally, Maples Corporate Services Limited was authorized to update company records and make necessary filings related to the removals.
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