Prosecutors Refile Arrest Warrants for Bank and Securities Employees in 'SG Incident'... Accused of Assisting Investment Attraction

The prosecution investigating the 'SG Securities-led stock price crash incident' has refiled arrest warrants against a bank employee and a securities company employee who assisted CEO Ra Deok-yeon (42) of Hoan and his associates in attracting investments.

[Image source=Yonhap News]

According to the prosecution on the 8th, the Joint Investigation Unit on Financial and Securities Crimes of the Seoul Southern District Prosecutors' Office (Chief Prosecutor Dan Seong-han) refiled arrest warrants on the same day against Kim (50), head of corporate finance at a commercial bank, and Han (53), a securities company employee, on charges of violating the Capital Markets Act, the Act on the Regulation of Concealment of Criminal Proceeds, and bribery.

According to the prosecution, Kim is suspected of participating in the crimes of CEO Ra and his associates, who are accused of market manipulation, by attracting investors and pocketing 250 million won from them. Han is also suspected of introducing investors and receiving 290 million won.

The prosecution previously filed arrest warrants for Kim and Han in June and July, respectively, but the court dismissed both, stating that "it is necessary to guarantee the opportunity for defense."