Damage Amounting to 80 Billion Won... Prosecutors Indict 6 Key Suspects in Stock Price Manipulation Scandal

The prosecution has booked suspects involved in the stock price crash incident triggered by SG (Soci?t? G?n?rale) Securities, including La Deok-yeon, the head of an investment advisory firm. As the investigation led by the Financial Services Commission expands to the prosecution, the inquiry is expected to accelerate.

According to News1 on the 1st, the Seoul Southern District Prosecutors' Office has booked at least six suspects, including La Deok-yeon, the head of the investment advisory firm, and former professional golfer Mr. A, who are involved in this incident.

The suspects include Mr. A, who operated a screen golf studio in Gangnam, Seoul, and is accused of recruiting investors from celebrities and wealthy individuals to manipulate stock prices; La, who was listed as an inside director of Mr. A’s corporation; and Mr. B, who was involved in managing corporations related to La.

Currently, a joint investigation team centered on the Financial and Securities Crime Joint Investigation Unit of the Seoul Southern District Prosecutors' Office has been formed. The investigation team includes personnel from the Capital Market Investigation Division of the Financial Services Commission and the investigation and inspection staff of the Financial Supervisory Service.

The number of victims in this stock price crash incident is estimated to be about 1,000, with damages reaching approximately 80 billion KRW. Financial authorities are closely examining allegations of stock price manipulation.

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