Prosecutors Accelerate Investigation into 'SG Securities-Induced Stock Plunge'... Close Associate of Ra Deok-yeon Also Arrested
Suspicion of Investment Management Involving Doctors and Others
The prosecution investigating the SG Securities-induced crash has also arrested Byun Mo, a close associate of CEO Ra Deok-yeon (42).
![[Image source=Yonhap News]](http://www.asiae.co.kr/news/img_view.htm?img=2023050915443325073_1683614673.jpg)
On the 9th, the Joint Financial and Securities Crime Investigation Team of the Seoul Southern District Prosecutors' Office announced that they arrested Byun, known as a close aide of CEO Ra and a recruiter of investors, near his residence around 4 p.m. that day.
Byun has been suspected of being involved in the crash incident by managing large investors such as employees of Ra's unregistered investment advisory firm and doctors.
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Earlier, the prosecution also arrested CEO Ra this morning on charges of receiving investments ranging from hundreds of millions to billions of won per person from investors, then taking over their mobile phones and accounts to manipulate stock prices.
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