Prosecutors Summon Shinrajen CEO Moon Eun-sang for Investigation on 'Insider Trading'
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[Asia Economy Reporter Yoo Byung-don] Moon Eun-sang, CEO of SillaJen, who is suspected of insider trading, is reportedly under investigation by the prosecution.
According to the prosecution and the bio industry, the Financial Investigation Division 1 of the Seoul Southern District Prosecutors' Office (Chief Prosecutor Seo Jeong-sik), which is investigating this case, has been questioning CEO Moon since the morning of the 27th.
It is known that CEO Moon is being investigated as a suspect for violating the Capital Markets Act.
The prosecution believes that CEO Moon used internal company information to sell a large number of shares before the public announcement of the suspension of clinical trials for SillaJen's anticancer drug 'Pexa-Vec,' thereby avoiding losses.
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In August of last year, before the evaluation results of the ineffectiveness of 'Pexa-Vec' were released, CEO Moon sold 533,516 shares of SillaJen stock.
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