Prosecutors Raid Meritz Securities... Allegations of Illegal Trading of E-Group BW
The prosecution has launched a compulsory investigation into Meritz Securities regarding allegations of fraudulent trading of convertible bonds with warrants (BW) related to E-Group (formerly Ewha Group).
According to the legal community on the 19th, the Tax Crime Investigation Division of the Seoul Central District Prosecutors' Office (Chief Prosecutor Lee Jin-yong) has been conducting a search and seizure at the headquarters of Meritz Securities located in Yeouido, Seoul, since the morning on charges including violation of the Capital Markets Act (fraudulent trading).
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The prosecution has been investigating related matters on the grounds that employees of Meritz Securities were involved in fraudulent trading activities concerning the issuance and sale of E-Group's BWs.
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