Prosecutors Indict Two Including Doctor Sales Manager in 'SG Incident'... Warrants Requested for Two Other Accomplices

The prosecution investigating the 'SG Securities-led stock price crash incident' has sent two individuals, including the head of sales for a group of doctors, to trial while in custody. Arrest warrants have also been requested for the gallery representative and securities firm employee involved in the stock manipulation crime ring.

On the 3rd, the joint investigation team of the Seoul Southern District Prosecutors' Office, the Financial Services Commission, and the Financial Supervisory Service announced that they would indict Joo (50), the director of S Rehabilitation Medicine Clinic in Nowon-gu, and Kim (40), an auditor at E Management Consulting firm operated by Ra Deok-yeon Hoan (42), on charges of violating the Capital Markets Act and the Act on the Aggravated Punishment of Specific Economic Crimes, among others.

According to the prosecution, within Ra's group, Joo served as the head of sales for a group of high-net-worth doctors, and Kim acted as the sales director.

While indicting them, the prosecution also requested pre-trial detention warrants for Nam (30), the representative of A Gallery, and B (53), a manager at a securities firm, on charges including violations of the Act on the Aggravated Punishment of Specific Economic Crimes.

A is accused of conspiring with the stock price manipulation ring to conduct unregistered discretionary investment business and of concealing approximately 10 billion won in criminal proceeds from the stock manipulation ring through the gallery he operates.

B is accused of facilitating the lending of about 13 billion won of clients' money and securities accounts to Ra and others, receiving several hundred million won in the process.

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