The so-called 'Deutsche Motors Stock Price Manipulation' suspicion case will be heard by the Supreme Court.
According to the legal community on the 18th, among the nine defendants indicted in this case who received a second trial verdict on the 12th, two individuals, A and B, filed appeals to the Seoul High Court Criminal Division 5 (Presiding Judges Kwon Soon-hyung, Ahn Seung-hoon, and Shim Seung-woo) the day after the sentencing.
Among them, A, who was acquitted in the first trial, was judged as an accomplice in stock price manipulation in the second trial and was sentenced to one year in prison with a two-year probation and fined 50 million won. A is accused of working as a sales manager at a securities company from 2009 to 2013, inducing institutional investors to purchase Deutsche Motors stocks and participating in market manipulation.
B, who also appealed on the same day, was indicted for participating in market manipulation using his own and clients' accounts while working at a securities firm from 2009 to 2012, and was sentenced to a suspended prison term in both the first and second trials.
The main culprit of the case, former Deutsche Motors Chairman Kwon Oh-soo, and the other defendants including Son Mo, known as the 'Jeonju' figure, have not yet filed appeals as of this day. The appeal period lasts until the 19th.
On the 12th, the second trial sentenced former Chairman Kwon to three years in prison with a four-year probation and a fine of 500 million won. Son, who was acquitted of conspiracy to manipulate stock prices in the first trial, was sentenced to six months in prison with a one-year probation in the second trial after being found guilty of aiding and abetting, which was added as a subsidiary charge.
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