Prosecution Investigates 'Leaked Investigation Secrets'... Raids Seoul Metropolitan Police Agency

Incumbent Police Officers Implicated in 'Listed Company Stock Manipulation' Case
After Leaked Investigation Secrets, Another Police Officer's Involvement Uncovered

The prosecution, which is investigating allegations that an incumbent police officer leaked confidential information during an investigation into stock price manipulation and other cases, has discovered related suspicions involving another police officer and launched a compulsory investigation into the Seoul Metropolitan Police Agency headquarters.

According to the legal community on April 9, the Joint Investigation Team for Financial and Securities Crimes at the Seoul Southern District Prosecutors’ Office sent investigators to the Seoul Metropolitan Police Agency in Seodaemun-gu on the morning of the same day to search the office of Inspector A, who is affiliated with the Guard Division of the Security Bureau, among other locations.

Seodaemun-gu Police Agency, Seoul. Photo by Hyunmin Kim

During its investigation into a case in which a former manager of Daishin Securities, a businessperson, and Mr. Lee—a wealthy individual and husband of a well-known influencer—were suspected of manipulating the stock price of a KOSDAQ-listed company, the prosecution found evidence that a team leader-level police officer (inspector) at the Gangnam Police Station had leaked investigative information. After expanding the investigation, the prosecution also identified that Mr. Lee had contacted Inspector A of the Seoul Metropolitan Police Agency multiple times and is now examining whether there was any inappropriate solicitation.

Previously, on March 23, the prosecution indicted the former manager of Daishin Securities and several businesspeople on charges of violating the Capital Markets Act. Although an arrest warrant was requested for Mr. Lee, who is suspected of participating in the stock price manipulation, it was denied, and the investigation is ongoing. The inspector from the Gangnam Police Station is facing charges of leaking official secrets.

Mr. Lee and others are accused of using matched trading, in which the buy and sell prices are prearranged to manipulate stock prices, and of mobilizing client accounts or borrowed-name accounts in the process.

Meanwhile, the prosecution also conducted a search and seizure at the Gangnam Police Station on March 27.

This content was produced with the assistance of AI translation services.