Reassignment of the 'Sillajen Case' to the Financial Investigation Department Following the Disbandment of the Securities Crime Task Force

[Asia Economy Reporter Yoo Hyun-seok] The prosecution has reassigned the investigation into the alleged 'insider trading' of bio company Sillajen to the Financial Investigation Division 1 of the Seoul Southern District Prosecutors' Office (Chief Prosecutor Seo Jeong-sik). This is a measure following the disbandment of the Securities Crime Joint Investigation Unit.

The Seoul Southern District Prosecutors' Office, a 'financial crime-focused prosecution office,' announced on the 5th that the case was reassigned due to the disbandment of the Securities Crime Joint Investigation Unit last month. Sillajen's stock price rose on expectations for the immuno-oncology drug 'Pexaver' under development.

However, the stock price plummeted after the Phase 3 clinical trial, the final stage of the clinical trial, was halted. It was revealed that before the stock price drop, the largest shareholders and their relatives sold large amounts of shares, raising suspicions that they traded stocks using undisclosed information related to the clinical trial suspension.

Additionally, the Seoul Southern District Prosecutors' Office reassigned cases related to Lime Asset Management's suspension of redemptions to the Criminal Division 6 (Chief Prosecutor Jo Sang-won), and other cases previously investigated by the Joint Investigation Unit were reassigned to respective divisions according to their work characteristics.

Meanwhile, to reinforce investigative personnel for the Sillajen case and others, a total of four prosecutors?three from the Seoul Central District Prosecutors' Office and one from the Seoul Eastern District Prosecutors' Office?were dispatched to the Southern District Prosecutors' Office. This prosecutor dispatch was reportedly carried out under the direction of Prosecutor General Yoon Seok-yeol.

This content was produced with the assistance of AI translation services.