Prosecutors Request Arrest Warrant for Former CEO of KOSDAQ-listed Company for Colluding with Lee In-kwang, Main Culprit of Lime Scandal
The prosecution has requested an arrest warrant for the former CEO of DA Technology, a KOSDAQ-listed company, who is accused of conspiring with Lee In-kwang, chairman of Esmo and one of the main culprits in the Lime scandal, to engage in stock price manipulation.
Seoul Southern District Prosecutors' Office, Yangcheon-gu, Seoul.
Photo by Daehyun Kim kdh@
According to the legal community on the 9th, the Joint Investigation Team for Financial and Securities Crimes at the Seoul Southern District Prosecutors' Office filed an arrest warrant request yesterday against former DA Technology CEO Lee, on charges including breach of trust and embezzlement under the Act on the Aggravated Punishment of Specific Economic Crimes. DA Technology is suspected of being involved in stock price manipulation and embezzlement orchestrated by Chairman Lee. The prosecution believes that Chairman Lee used Lime investment funds to acquire DA Technology.
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Chairman Lee is accused of mobilizing approximately 130 billion KRW of Lime funds to consecutively acquire KOSDAQ-listed companies and manipulate their stock prices. As the investigation tightened, he fled overseas for over four years and was apprehended last month in France. The prosecution reorganized the Lime fund investigation team in the second half of last year and, while conducting related investigations, began a full-scale crackdown on Chairman Lee and his domestic accomplices earlier this year.
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