'Suspected of Stock Manipulation' Im Chang-jung: "I am also a Victim, Suffered Losses Due to Stock Plunge"

Singer Lim Chang-jung claimed that he is also a victim regarding allegations of his involvement in stock price manipulation.

On the 25th, JTBC reported that Lim invested billions of won with a group involved in stock price manipulation and also invested with them in overseas golf courses.

According to the report, Lim entrusted money to the stock manipulation group by selling part of the shares of his entertainment agency for 5 billion won and reinvesting 3 billion won of that amount with them. He also gave the group his and his wife's identification cards to allow proxy investments.

[Image source=Yonhap News]

Lim stated, "I don't know which stocks they were, but just by looking at the graph, the profits looked good and they said the returns were significant, so I thought it was great. I created 1.5 billion won in a personal account," adding, "I didn't know much about stocks, so even though 3 billion won became 5.8 billion won in a month and a half, I didn't notice anything suspicious." He also countered that he actually suffered losses due to the stock price crash.

Lim expressed that he is also a victim and said he would cooperate with investigations or inquiries.