The prosecution investigating the 'SG Securities-induced stock price crash incident' has requested pre-arrest warrants for three individuals, including hospital directors who participated in stock price manipulation alongside CEO Ra Deok-yeon Hoan (42).
On the 12th, the Seoul Southern District Prosecutors' Office announced that it had requested pre-arrest warrants for hospital director Joo (surname), sales director Kim (40), who participated in stock price manipulation with CEO Ra, on charges of violating the Capital Markets Act and the Act on the Regulation of Concealment of Criminal Proceeds. They also requested a warrant for Kim (50), head of the corporate finance team at a branch of Bank A, on charges of violating the Capital Markets Act and the Act on the Aggravated Punishment of Specific Crimes (including bribery).
According to the prosecution, Mr. Joo was in charge of sales to a group of high-net-worth investors who are doctors, and Mr. Kim served as the auditor of management consulting firm E, where CEO Ra is an inside director. Kim (50), the corporate finance team leader at the bank and a current bank employee, is accused of participating in the price manipulation crimes orchestrated by CEO Ra and his associates by attracting investors and receiving money and valuables.
Earlier, on the 26th of last month, the prosecution indicted CEO Ra, his closest aide Byun (40), and former professional golfer Ahn (33) on charges of violating the Capital Markets Act and the Act on the Concealment of Criminal Proceeds. On the same day, they also requested pre-arrest warrants for Jang (35), who oversaw finance and criminal proceeds management; Park (37), who led the stock trading team for price manipulation; and Jo (41), who was responsible for investor recruitment and client management, and these warrants were issued on the 1st.
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