[Asia Economy Reporter Koo Eun-mo] The Financial Supervisory Service's Capital Market Special Judicial Police (Special Judicial Police) conducted a search and seizure of Hanil Cement on suspicion of stock price manipulation.
On the 15th, the Special Judicial Police sent investigative personnel to Hanil Cement's headquarters in Seocho-dong, Seoul, to secure materials related to allegations of manipulating stock prices for profit. At the same time, it is reported that they are obtaining transaction records of Hanil Cement officials from a branch of a certain securities firm. The Financial Supervisory Service notified the prosecution of Hanil Cement's stock price manipulation allegations through a fast track (emergency measure) in June and is known to have started the investigation under the direction of the Seoul Southern District Prosecutors' Office.
This is the third time since the Special Judicial Police, launched in July last year, have conducted a forced investigation. The Financial Supervisory Service's Special Judicial Police can investigate unfair capital market trading cases such as stock price manipulation or insider trading by using coercive measures like search and seizure, travel bans, and communication record checks.
Previously, the Special Judicial Police conducted search and seizures at the research centers of Securities Firm A in September last year and Securities Firm B last month, respectively, in connection with allegations of analysts' front-running trades.
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