[La Deok-yeon Gate] Prosecution Secures Data by Raiding Korea Exchange Before Arresting La Deok-yeon

Prosecutors investigating the 'SG Securities-led Stock Price Crash Incident' reportedly secured transaction records proving stock price manipulation by conducting a search and seizure at the Korea Exchange before arresting CEO Ra Deok-yeon Hoan (42).

[Image source=Yonhap News]

According to the legal community on the 15th, the Seoul Southern District Prosecutors' Office Joint Investigation Team on Financial and Securities Crimes (Chief Dan Sung-han) presented search warrants to the Korea Exchange and the Financial Supervisory Service between last month’s 28th and early this month, forming a joint investigation team with the Financial Services Commission and the Financial Supervisory Service, and secured materials related to the 'SG Securities-led Stock Price Crash Incident.' The secured materials are said to include stock transaction records believed to involve Ra and his accomplices in stock price manipulation, as well as existing investigation records from financial authorities.

The secured materials are also reported to have had a significant impact on the detention of suspects identified as the main perpetrators of stock price manipulation, including CEO Ra, his closest aide Byeon Mo (40), and former professional golfer Ahn Mo (33).

Earlier, the joint investigation team received over 200 mobile phones seized by the police and identified about 50 phone numbers suspected of being used for collusive trading, along with related securities accounts, and requested analysis from the Korea Exchange. The exchange analyzed approximately 250 securities accounts and internet protocol (IP) addresses, then sent accounts suspected of collusive trading back to the prosecution.

※ This SG Securities-led stock price crash incident has sounded an alarm for the order of the capital market. Readers’ tips will be a great help in uncovering the truth. We welcome any information regarding investment damage cases, suspicions of stock price manipulation and asset concealment by Ra Deok-yeon’s side, and the background of large-scale sales by major shareholders of Dow Data and Seoul Gas (jebo1@asiae.co.kr). Asia Economy will do its best to establish a transparent capital market order.

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