Prosecutors Indict Beauty Company CEO Close to Ra Deok-yeon... Investigation Accelerates Amid 'SG Incident'

The prosecution investigating the 'SG Securities-led stock price crash incident' has booked Mr. Lim, the CEO of a beauty company and a close associate of CEO Ra Deok-yeon Hoan (42).

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According to a comprehensive report by Asia Economy on the 10th, the Seoul Southern District Prosecutors' Office's Joint Investigation Team for Financial and Securities Crimes (led by Dan Seong-han) has booked Mr. Lim, a close associate of CEO Ra and CEO of S Beauty, on charges of violating the Capital Markets Act and the Act on the Aggravated Punishment of Specific Economic Crimes related to Concealment of Criminal Proceeds, and is currently investigating.

Mr. Lim was appointed CEO of S Beauty in January last year, a company registered for medical and skin care business purposes. CEO Ra is also registered as an inside director of the company. S Beauty was established in December 2021.

It has been confirmed that CEO Ra and his stock manipulation group established or acquired companies in various industries such as golf, broadcasting, medical, and beauty, raising the possibility that these companies were used as channels for money laundering through commissions and other means.

The prosecution is accelerating the investigation, including securing the suspects' custody. The day before, the prosecution arrested CEO Ra, who is accused of receiving mobile phones and accounts from investors and raising stock prices through collusive trading methods. Mr. Byun, a close associate of CEO Ra included in the stock manipulation group, and professional golfer Mr. Ahn were also arrested on the same day.

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