Prosecution Sends 'Sambo Construction Stock Manipulation Allegations' to Financial Supervisory Service for Investigation Oversight
The prosecution has decided to transfer the Sambo Construction stock price manipulation case back to the financial authorities and to oversee the investigation.
On May 2, the Seoul Southern District Prosecutors' Office announced, "Considering the nature and seriousness of the case, we have directed the Financial Supervisory Service, which has conducted a long-term investigation into the matter, to proceed with the investigation so that it can be carried out swiftly."
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Previously, on April 23, the Securities and Futures Commission under the Financial Services Commission filed a complaint with the prosecution, accusing more than 10 individuals?including former and current de facto owners and the CEO of Sambo Construction?of violating the Capital Markets Act and other charges.
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