"3 Billion Won Loss" Is Lim Chang-jung the Victim?..."Isn't Failed Theft Still a Crime?"

Regarding the 'stock price crash incident triggered by foreign securities firm Soci?t? G?n?rale (SG) Securities,' Kim Kwang-seok, an adjunct professor at Hanyang University, evaluated singer Lim Chang-jung, who claims to have suffered damages worth 3 billion KRW from alleged stock manipulation groups, as "ambiguous."

On the 28th, on YTN The News, Professor Kim said about Lim, "If we assume theft, the thief might fail to steal 1 million KRW from the house or might sprain a leg and incur medical expenses. However, even if the theft itself fails, it cannot be said that a crime did not occur. Claiming there is no crime just because there was no profit and instead a loss was suffered has its limitations," he stated.

[Image source=Yonhap News]

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Regarding the approximately 1,500 investors, including Lim and small and medium-sized enterprise representatives, Professor Kim said, "There are investment forces and investors who participated and provided funds. Lim is literally an investor. They are not the manipulation group. However, an important criterion to distinguish criminals, perpetrators, and victims is whether they knew these people were stock manipulators when they provided funds."

He added, "If they knew they were stock manipulators but continued to invest money hoping to make a profit, they are accomplices. But if they had no idea and just invested following someone's advice because they were promised profits, they cannot exactly be considered victims," clarifying his stance. He further explained, "Stock investors inherently accept the risk of losses. The discussion is about whether they are accomplices or perpetrators, not about considering them victims."

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Meanwhile, Lim Chang-jung is complaining of damages, stating that he invested 3 billion KRW with the alleged stock manipulation group but has lost most of his investment. However, suspicions have arisen that he might have been involved in the stock manipulation after it was revealed that he appeared on a broadcast channel operated by the alleged manipulators.

Financial authorities and the police have launched a full-scale investigation into the SG Securities-related crash incident. The group suspected of orchestrating the operation is accused of attracting funds from professionals, celebrities, and wealthy individuals and raising the stock prices of about ten different stocks through proxy investments.

Since the incident surfaced on the 24th, eight stocks?Daol Investment & Securities, Harim Holdings, Dow Data, Sebang, Samchully, Daesung Holdings, Seoul Gas, and Seonkwang?simultaneously hit their lower price limits without any particular reason, causing the market capitalization to drop by more than 8 trillion KRW within four days.

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