[La Deok-yeon Gate] Prosecution Raids Kiwoom Securities and KB Securities Over 'SG Securities-Induced Crash'... CFD Data Secured (Comprehensive)

The prosecution investigating the 'SG Securities-triggered crash' is expanding its investigation to securities firms such as Kiwoom Securities and KB Securities by conducting raids.

[Image source=Yonhap News]

On the 24th, the Financial Securities Crime Joint Investigation Unit of the Seoul Southern District Prosecutors' Office (Chief Prosecutor Dan Seong-han) has been conducting raids since the morning at the headquarters offices of Kiwoom Securities and KB Securities located in Yeouido.

The prosecution is reportedly securing materials related to Contracts for Difference (CFD) transactions from these securities firms.

CFD is a derivative product used as a means of market manipulation by the stock price manipulation group led by CEO Ra Deok-yeon (42) and others. It allows leverage of up to 10 times with a margin of 40% without owning the underlying stocks.

In the financial investment industry, there is an analysis that the large volume of CFD sell orders, such as forced liquidation during the stock price crash at the end of last month, may have increased the magnitude and speed of the stock price decline.

※ This SG Securities-triggered stock price crash has sounded an alarm for the order of the capital market. Readers' tips will be a great help in uncovering the truth. We welcome any tips regarding investment damage cases, suspicions of stock price manipulation and asset concealment by Ra Deok-yeon’s group, details related to the large-scale sales by major shareholders of Dow Data and Seoul Gas, or any other information (jebo1@asiae.co.kr). Asia Economy will do its best to establish a transparent capital market order.