[La Deok-yeon Gate] La Deok-yeon Group's Assets Worth 264.2 Billion Won Frozen... Decision on Provisional Seizure Made
As a result of the court's decision to preserve confiscation, assets worth approximately 264 billion KRW belonging to La Deok-yeon, CEO of Hoan (42), and other stock manipulation conspirators have been frozen.
![[Image source=Yonhap News]](http://www.asiae.co.kr/news/img_view.htm?img=2023051120335328409_1683804833.jpg)
According to the legal community on the 17th, the Seoul Southern District Court issued a confiscation preservation order the day before on assets worth 264.2 billion KRW belonging to La and other stock manipulation conspirators. Consequently, La and his associates are no longer able to dispose of their assets at will.
Earlier, on the 12th, the prosecution filed a confiscation preservation request on La's assets including real estate, deposits, stocks, cryptocurrencies, corporate-owned real estate, and office lease deposit refund claims.
Based on the investigation conducted so far, the prosecution believes that La and his group gained an illicit profit of 264.2 billion KRW through market manipulation, of which half, 132.1 billion KRW, was taken as commission.
The prosecution has been tracking La and his group's real estate and financial assets to secure criminal proceeds. They also plan to cooperate with overseas investigative agencies to uncover their hidden overseas assets.
La, his closest aide Byun Mo (40), and former professional golfer Ahn Mo (33) have been under detention and are currently under prosecution investigation since the 11th and 12th.
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※ This stock price crash incident triggered by SG Securities has sounded an alarm for the capital market order. Readers' tips will be a great help in uncovering the truth. We welcome any information regarding investment damage cases, suspicions of stock manipulation and asset concealment by La Deok-yeon’s side, and insider details related to the mass sell-off 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.
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