Prosecutors Arrest Stock-Reading Room Operator Who Earned Hundreds of Millions by Recommending Only Stocks They Owned

Introducing 22 Owned Stocks → Sell When the Stock Price Rises

[Asia Economy Reporter Yoo Byung-don] A man in his 20s who operated a stock leading room and inflated the prices of stocks he held to pocket hundreds of millions of won has been arrested.

On the 23rd, the Financial Investigation Division 1 of the Seoul Southern District Prosecutors' Office (Chief Prosecutor Lee Seung-hyung) announced that they had arrested Mr. A (29) the previous day on charges of fraudulent unfair trading under the Capital Markets Act.

Mr. A is accused of opening a stock leading room on social networking service (SNS) channels such as Telegram and KakaoTalk from March 7 to April 8 this year, introducing 22 stocks he held, and making 346 million won by selling them when the stock prices rose.

The prosecution received the case from the Financial Supervisory Service last month on the 7th as a 'Fast Track (Rapid Investigation Transfer)' and began the investigation.

It was investigated that Mr. A attracted participants by promoting that he ranked first with a 462% return in a practical investment competition held by a major domestic securities company.

A stock leading room is an online service that recruits paid members on SNS or open chat rooms to provide investment information, and it can operate as long as it is reported to the Financial Supervisory Service without any separate qualification requirements.

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