HTC chief 'victim of $7.4m swindle'

HTC co-founder Cher Wang, widely considered one of the most powerful and successful women in technology, was defrauded of $7.4 million intended for a church she attended in Saratoga, California, a US court heard.

Jonathan Chang, 60, and his wife, Grace Chang, 57, were indicted by a federal jury earlier this month in San Jose on charges of conspiracy to commit wire fraud and conspiracy to commit money laundering. The defendants, both immigrants from Taiwan who live in Cupertino, appeared on Wednesday in the US District Court in San Jose.

Judge Nathanael Cousins ordered their assets to be frozen and placed the defendants under electronic monitoring. They are scheduled to reappear in court on Monday.