"I am also a victim" Lim Chang-jung accompanied the stock manipulation group in the US golf course contract

Seller is Yushin-il, Chairman of Korea Industrial Trading
"Immediate contract because Lim Chang-jung's son plays golf..."

Soci?t? G?n?rale (SG) Securities-related crash victims, singer Lim Chang-jung, is reported to have accompanied the stock manipulation group at a golf course contract meeting.

On the 2nd, JTBC's 'Newsroom' reported that Ra Deok-yeon, the leader of the stock manipulation group, signed a contract to buy a golf course in California, USA, early last month, and Lim Chang-jung was also present at the meeting.

More than 20 billion won was sent in the first installment, and the seller is Yoo Shin-il, chairman of Korea Industrial Yanghaeng, a major figure in the golf industry who owns about 20 golf courses overseas.

JTBC stated, "At the time of the contract, the stock manipulation group and singer Lim Chang-jung came together." Chairman Yoo also said in an interview, "That was the first time I saw Lim Chang-jung. He said his kids play golf, somewhere in Canada. So he knew golf well... When I came to see it, it was really good. He said he would do it right away, so we signed the contract."

Chairman Yoo entrusted 2 billion won to Ra, who earned a lot of profit in the first few months and gained Yoo's trust. Later, Yoo and Ra signed a contract to split the shares of three golf courses in Japan equally, but it eventually fell through. 'Newsroom' reported, "(Chairman Yoo) lost all his investment and even went into debt."

Ra and his stock manipulation group members held positions as inside directors at various entertainment businesses, including the cable channel Sume and the operator of a golf practice range in Gangnam, creating connections with investors. They reportedly attracted many investors by mobilizing professional golfers and sales teams.

Lim Chang-jung became involved in the stock manipulation suspicion case. He sold part of his agency shares for 5 billion won and reinvested 3 billion won of that into the stock manipulation group. Lim claims to have suffered a loss of 6 billion won, but videos showing his attendance at meetings of the suspected stock manipulation group have been fully disclosed, raising further suspicion.

The joint investigation team of the Seoul Southern District Prosecutors' Office and the Financial Services Commission has booked Ra and other key figures in this case on charges including violation of the Capital Markets Act and is currently investigating.