Over 20 People Indicted for Illegal Investment Advisory on Unlisted Stocks... Referred to Prosecutors

[Asia Economy Reporter Lee Gwan-joo] A group that brokered and advised on unlisted company stock investments without approval from financial authorities has been caught by the police.

The Police Agency's Major Crime Investigation Division announced on the 18th that they have referred about 20 people to the prosecution without detention on charges of illegal investment brokerage.

According to the police, they are suspected of receiving fees under the pretext of brokering and advising on unlisted stock investments without permission from financial authorities. The stocks they brokered are reported to be worth several hundred billion won.

The company’s representative, Chairman A, is known to have formed a passport support group and been active in it. A police official stated, "There is no evidence of actual connections with political or government circles; it was a means to display power."

Additionally, Chairman A and others are also suspected of jointly assaulting and threatening some employees.

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