Prosecutors Conduct Search and Seizure at ShillaJen Seoul Office and CEO Moon Eun-sang's Residence
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[Asia Economy Reporter Yoo Byung-don] The prosecution has once again conducted a raid on the bio company Sillajen, which is suspected of selling stocks in advance using insider information.
The Financial Investigation Division 1 of the Seoul Southern District Prosecutors' Office (Chief Prosecutor Seo Jeong-sik), which is investigating this case, sent investigators on the morning of the 21st to Sillajen's Seoul office and the residence of CEO Moon Eun-sang to secure related materials.
The prosecution previously arrested former CEO Lee Yong-un and former auditor Kwak Byung-hak on charges of selling a large amount of stocks using insider information before the public announcement of the clinical trial suspension of 'Pexavac,' an immuno-oncology drug candidate developed by Sillajen. CEO Moon is also under suspicion of using insider information after selling a large amount of shares.
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The prosecution also raided Sillajen's headquarters and Seoul office in August of last year.
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