Police Conduct Search and Seizure at Eugene Investment & Securities in 'Stock Manipulation Case'
Search and Seizure at Eugene Investment & Securities Headquarters... Executive Booked on Charges of Violating the Capital Markets Act
The police investigating a stock price manipulation case involving a KOSDAQ-listed company have launched a forced investigation.
![[Image source=Yonhap News]](http://www.asiae.co.kr/news/img_view.htm?img=2023050115060216996_1682921161.jpg)
The National Investigation Headquarters of the National Police Agency announced that at 9 a.m. on the 8th, they were conducting a search and seizure at the headquarters of Eugene Investment & Securities located in Yeouido, Seoul.
The police have booked executive A of the securities firm on charges of violating the Capital Markets Act and are investigating the stock price manipulation case. According to the police, A is known to have been involved in the stock price manipulation process of company B, which was listed on KOSDAQ and engaged in the solar power business.
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In 2018, rumors spread that an overseas bio company invested in by company B would be listed on NASDAQ, causing company B's stock price, which was around 2,000 won at the time, to surge about fourfold within two months.
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