Additional Suspicion of Insider Trading by Executives Detected
Prosecutors and financial authorities have additionally detected suspicious unfair stock trading involving current and former executives of EcoPro, a KOSDAQ-listed company, and have launched a compulsory investigation.
According to financial authorities on the 18th, the Joint Investigation Team for Financial Securities Crimes of the Seoul Southern District Prosecutors' Office and the Special Judicial Police of the Financial Services Commission dispatched investigative personnel to EcoPro's headquarters in Cheongju, Chungbuk, on the 16th and 17th to seize internal documents and computer storage data.
This is the second investigation by prosecutors into unfair trading suspicions related to EcoPro executives.
Prosecutors and financial authorities are reported to have additionally detected circumstances where current and former EcoPro executives engaged in stock trading using undisclosed information around 2020 to 2021 and gained illicit profits. Accordingly, they appear to have swiftly initiated a joint investigation using the 'Fast Track' (rapid investigation transfer) procedure.
Earlier, former EcoPro Chairman Lee was indicted in May last year on charges of violating the Capital Markets Act and the Act on the Aggravated Punishment, etc. of Specific Economic Crimes related to Concealment of Criminal Proceeds, and was sentenced in the first trial to three years in prison with a five-year probation and a fine of 3.5 billion won.
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