Published 20 Apr.2022 18:00(KST)
[Asia Economy Reporter Jin-ho Kim] The Seoul Southern District Prosecutors' Office Financial and Securities Crime Investigation Cooperation Unit (Head Park Seong-hoon) announced on the 20th that it has arrested and indicted former real estate sales agent A, who pocketed 5.9 billion KRW by spreading false information through internet stock cafe broadcasts.
According to the prosecution, A, together with accomplices, acquired management rights of an unlisted company and around July 2016, spread false information through internet stock cafe broadcasts recommending the stock and claiming it would soon be listed. Using this method, A sold unlisted company stocks purchased at 100 KRW per share to members for 2.6 trillion KRW.
The prosecution has arrested and indicted A on charges including violation of the Capital Markets Act and fraudulent unfair trading. The prosecution stated, "We will strictly punish offenders who disrupt the capital market order and strive to establish financial order."
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