An executive of an investment advisory firm suspected of involvement in creating the so-called 'Kim Gun-hee Excel file' in the Deutsche Motors stock manipulation case has been released on bail.
According to the legal community on the 27th, the Seoul Central District Court Criminal Division 25-2 (Presiding Judges Park Jeong-je, Ji Gwi-yeon, Park Jeong-gil) granted bail for Min (53), an executive of the investment advisory firm Black Pearl Invest, who was arrested and indicted on charges of violating the Capital Markets Act. However, conditions were imposed including residence restrictions, a deposit of 30 million KRW, electronic monitoring device attachment, mandatory court appearances, and prohibitions on evidence destruction and fleeing.
Accordingly, Min will stand trial while out of custody.
Min is accused of conspiring with former Deutsche Motors Chairman Kwon Oh-soo from December 2009 to December 2012 to artificially inflate Deutsche Motors' stock price.
During the prosecution's investigation in 2021, he left for the United States but was arrested immediately upon returning last November due to passport invalidation and Interpol cooperation measures. He is suspected of being involved in creating an Excel file named 'Kim Gun-hee' that the prosecution disclosed during the trial in August last year.
The file stored on a laptop seized by prosecutors at Black Pearl Invest's office reportedly contains details such as the number of Deutsche Motors shares traded under Mrs. Kim's name on January 13, 2011. The file's creation date coincides with the time when the Deutsche Motors stock manipulation group was conducting their second operation.
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