A group that deceived investors by claiming they could gain huge profits by buying in advance and sold unlisted stocks at 50 times the face value has been handed over to the prosecution.
According to the police on the 8th, the Seoul Metropolitan Police Agency's Violent Crime Investigation Unit has sent seven people, including A, the representative of a stock leading company, to prosecution on charges of fraud and violation of the Capital Markets Act.
The group is accused of deceiving investors from November 2021 to June last year by claiming that they would gain significant profits if the companies were listed on KOSDAQ, and selling stocks of three unlisted companies. It is known that they sold stocks with a face value of 500 won per share at prices ranging from 20,000 to 25,000 won per share, up to 50 times the face value. The criminal proceeds exceed 11 billion won, and the number of victims is estimated to be over 400.
More than 30 people have been booked in connection with this case. The police applied charges of organizing a criminal group based on evidence that the group systematically committed the crimes by dividing roles under a leader, including managers, headquarters chiefs, team leaders, and team members. Regarding about 2 billion won of their criminal proceeds, the police applied for pre-indictment seizure and confiscation, and the request was approved.
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