Additional Arrests Related to 'Kim Gun-hee Deutsche Motors Stock Manipulation' Allegations... "Proof of Criminal Charges"

[Image source=Yonhap News]

[Asia Economy Reporter Kim Hyung-min] A suspect involved in the Deutsche Motors stock manipulation allegations linked to Kim Gun-hee, wife of former Prosecutor General Yoon Seok-yeol, was additionally detained on the 8th.

Judge Lee Se-chang, in charge of warrants at the Seoul Central District Court, issued an arrest warrant on the same day for Kim, who is accused of violating the Capital Markets and Financial Investment Services Act, as requested by the prosecution. The judge stated the reason for issuance, saying, "The criminal charges are substantiated, and there is a risk of evidence destruction."

Kim is suspected of being involved in manipulating Deutsche Motors' stock prices between 2010 and 2011. Previously, the prosecution requested arrest warrants for three individuals, including Kim, on charges of stock manipulation; among them, Lee was detained on the 6th, while the other remains unreachable.

The case involves Chairman Kwon Oh-soo of Deutsche Motors conspiring with stock manipulators in the early 2010s to manipulate the company's stock prices. The prosecution has been investigating related suspicions after receiving a complaint alleging that Kim Gun-hee played the role of a so-called 'jeonju' (financier) in this case.

Kim Gun-hee is also suspected of buying stocks at low prices and reselling them at higher prices during the period when Chairman Kwon Oh-soo manipulated stock prices through market manipulation. Additionally, she is suspected of purchasing convertible bonds of Deutsche Financial, a subsidiary of Deutsche Motors, at prices below market value between 2012 and 2013.

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