Former ShillaJen CEO and Others Arrested for 'Insider Trading'... "Risk of Evidence Tampering and Flight"
![[Image source=Yonhap News]](http://www.asiae.co.kr/news/img_view.htm?img=2020041708462681064_1587080786.jpg)
[Asia Economy Reporter Yoo Byung-don] Two executives of the bio company Sillajen, including former CEO Lee Yong-han, who are suspected of selling stocks after knowing undisclosed information in advance, have been arrested.
On the 17th, Judge Sung Bo-gi, in charge of warrants at the Seoul Southern District Court, issued arrest warrants requested by the prosecution for former Sillajen CEO Lee Yong-han (54) and former auditor Kwak Byung-hak (56), citing "risk of evidence destruction and flight."
They are suspected of using internal company information to sell a large amount of stocks before the public announcement of the clinical trial suspension of Sillajen's immuno-oncology drug 'Pexavac,' thereby avoiding significant losses.
Sillajen's stock price once soared due to expectations for Pexavac's development, but it plummeted after the clinical trial was halted.
Hot Picks Today
"Samsung Electronics Employee with 100 Million Won Salary Receiving 600 Million Won Bonus... Estimated Tax Revealed"
- At President Lee's Call to "Give Enough to Shock," Whistleblower Rewards Become a Real Lottery
- Lived as Family for Over 30 Years... Daughter-in-Law Cast Aside After Husband's Death
- Gwangju Schools Purchase Starbucks Gift Cards Despite 'Tank Day' Controversy
- Appearing in a Leather Jacket, Jensen Huang Hastily Eats $6 Noodles on the Street... Shop Instantly Becomes a Hotspot
Lee served as CEO from 2008 to 2009, and Kwak, a relative of current Sillajen CEO Moon Eun-sang (55), served as the company's auditor and inside director from 2012 to 2016.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
