Former Police Executive Under 'Bribery Suspicion' Booked as Suspect in Stock Manipulation Case

The prosecution has booked Kim Mo, former head of the Seoul Metropolitan Police Agency's investigation unit, as a suspect.

Seoul Southern District Prosecutors' Office, Yangcheon-gu, Seoul.
Photo by Daehyun Kim kdh@

According to the legal community on the 27th, the Joint Investigation Unit on Financial and Securities Crimes of the Seoul Southern District Prosecutors' Office (Chief Prosecutor Gong Jun-hyeok) recently conducted a search and seizure on Kim Mo, former head of the Seoul Metropolitan Police Agency's investigation unit, and summoned him for questioning three times.

Kim is suspected of collaborating with Lee Mo, identified by the prosecution as the actual owner of Quantapia, and others to manipulate stock prices through approximately 3,000 instances of coordinated trading using over 80 accounts from May to the end of last year, thereby illegally gaining nearly 9 billion KRW in profits.

Earlier, in April, Kim was subjected to a search and seizure over allegations of police bribery involving A, an associate of Lee In-kwang, chairman of Esmo and one of the main culprits in the Lime scandal. Kim was sentenced to prison and dismissed after being found guilty in 2011 of accepting bribes from a construction company president to halt an investigation.

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