'Deojicheu Motors Stock Manipulation' Chairman Kwon Osu Refuses Prosecutor Investigation Due to Health Issues

[Image source=Yonhap News]

[Asia Economy Reporter Kim Hyung-min] Kwon Oh-soo, chairman of Deutsch Motors, who is accused of stock price manipulation, did not attend his first prosecution investigation after being detained, citing health issues.

According to the legal community on the 18th, the Anti-Corruption and Violent Crime Investigation Division 2 of the Seoul Central District Prosecutors' Office (Chief Prosecutor Jo Joo-yeon) notified Chairman Kwon, who is incarcerated at Seoul Detention Center, of the summons for investigation in the afternoon. Chairman Kwon's side reportedly submitted a letter of non-attendance to the prosecution, stating that he was 'not feeling well.'

Chairman Kwon is accused of manipulating stock prices by illegally purchasing approximately 15.99 million shares (worth about 63.6 billion KRW) through methods such as leaking internal company information and mobilizing external forces as 'players' while serving as the largest shareholder and CEO of Deutsch Motors from 2009 to 2012.

The case involving Chairman Kwon has attracted attention as Kim Gun-hee, wife of Yoon Seok-yeol, the People Power Party's presidential candidate, is reportedly involved. The prosecution is investigating whether Kim directly participated in the stock price manipulation process by acting as a 'broker.'

It is also known that Kim entrusted a Shinhan Securities stock account containing 1 billion KRW to Lee (detained), who played the role of a 'player' in the Deutsch Motors stock price manipulation from January to May 2010.

Additionally, during the investigation, the prosecution confirmed signs of embezzlement and breach of trust by Chairman Kwon's family and conducted searches last month at the office of Chairman Kwon's wife, Ahn, and their residence.

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