'SG Stock Crash Incident' 60 Investors to File Complaints Against Ra Deok-yeon and Others

Investors who claim to have suffered losses exceeding 100 billion KRW due to the stock price crash caused by SG (Soci?t? G?n?rale) Securities are planning to file a complaint with the prosecution against six individuals, including Ra Deok-yeon, CEO of H Investment Consulting (42).

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According to the legal community on the 8th, the law firm Daegun will submit a complaint to the Seoul Southern District Prosecutors' Office around 2 p.m. on the 9th on behalf of 60 investors, accusing Ra and five other H company officials of fraud, breach of trust under the Act on the Aggravated Punishment of Specific Economic Crimes, and violations of the Act on the Regulation of Concealment of Criminal Proceeds. The claimed damages amount to approximately 110 billion KRW.

A representative of the law firm Daegun stated that since the funds received from the complainants were already intended to be used as margin for leveraged trading through CFD accounts, this constitutes fraud. Additionally, they explained that conducting leveraged trading on the complainants’ accounts without the account holders’ consent constitutes breach of trust in the course of business.

The accused include CEO Ra and former professional golfer Ahn (33), among a total of six individuals. CEO Ra was responsible for selecting stock items and setting the overall framework for stock trading, while Ahn reportedly led investor recruitment alongside Ra.

There are also allegations that Ra and others received part of the investment profits as commissions through a golf academy, a fitness center, and restaurants, and concealed criminal proceeds through money laundering.

Meanwhile, the law firm Lee Kang also submitted a complaint to the Seoul Southern District Prosecutors' Office on the 1st on behalf of about 10 victims against a group involved in stock price manipulation.

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