'Arrest Warrants Issued for Lawyer and Accountant Advising Ra Deok-yeon Amid SG Stock Price Plunge'
The Seoul Southern District Prosecutors' Office and the joint investigation team of financial authorities on the 1st requested arrest warrants for a lawyer and an accountant involved in market manipulation by Ra Deok-yeon and Hoan representatives (42) and their associates in connection with the SG (Soci?t? G?n?rale) Securities crash incident.
![[Image source=Yonhap News]](http://www.asiae.co.kr/news/img_view.htm?img=2023071309074095966_1689206860.jpg)
According to the prosecution, lawyer Jo (43) and accountant Choi (41) are accused of advising Ra's group, establishing and managing a system to settle, launder, and conceal the proceeds of market manipulation crimes. This constitutes a violation of the Capital Markets Act and the Act on Reporting and Using Specified Financial Transaction Information.
The prosecution believes Jo gained approximately 1.2 billion KRW and Choi about 700 million KRW in illicit profits.
Hot Picks Today
!["Rather Than Endure a 1.5 Million KRW Stipend, I'd Rather Earn 500 Million in the U.S." Top Talent from SNU and KAIST Are Leaving [Scientists Are Disappearing] ①](https://cwcontent.asiae.co.kr/asiaresize/93/2026051414165763158_1778735817.jpg)
"Rather Than Endure a 1.5 Million KRW Stipend, I'd Rather Earn 500 Million in the U.S." Top Talent from SNU and KAIST Are Leaving [Scientists Are Disappearing] ①
- "Most Americans Didn't Want This"... Americans Lose 60 Trillion Won to Soaring Fuel Costs
- "It's Only May, but Convenience Stores Know... Iced Americano at 24°C, Tube Ice Cream at 31°C: The Thermometer of the Summer Sales Boom"
- Mother of Three Gang-Raped on Bus in India... Outrage as Bus Driver Implicated
- "I Hated Myself as Much as I Craved It"... Even a Mother's Tears and Brilliant Dreams Were Shattered [ChwiYakGukga] ⑦
Ra's group is currently undergoing a first trial at the Seoul Southern District Court on charges of long-term market manipulation of eight stocks immediately before the SG-induced crash to gain illicit profits. From May 2019 to last April, they allegedly engaged in prearranged trading by setting buy and sell prices in advance, artificially inflating the stock prices of eight listed companies, resulting in approximately 730.5 billion KRW in illicit gains.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
