[Breaking] Prosecution Seeks 40 Years Imprisonment and 2.359 Trillion Won Fine for Ra Deok-yeon in 'SG Incident'

The prosecution has requested a 40-year prison sentence for Ra Deok-yeon (42), the head of an investment advisory firm who was indicted as the main culprit in the Soci?t? G?n?rale (SG) securities-based stock manipulation scandal. This comes about one year and six months after the first trial began in May last year.

On the 14th, during the sentencing hearing held at the Seoul Southern District Court Criminal Division 11 (Presiding Judge Jeong Do-seong), the prosecution asked the court to sentence Ra to 40 years in prison on charges including violation of the Capital Markets Act (price manipulation) and the Act on the Aggravated Punishment of Specific Economic Crimes (concealment of criminal proceeds). Additionally, they requested a fine of 2.359 trillion won and a confiscation of 12.7 billion won.