Yang Jeong-won's husband, arrested and indicted on charges of stock price manipulation worth 28.9 billion won and bribery [Star Issue]

*This content was translated by AI.

Yang Jeong-won, a broadcaster who was formerly a Pilates instructor, has been arrested and indicted on charges including involvement in a KOSDAQ-listed company stock price manipulation case.

The Seoul Southern District Prosecutors' Office Financial and Securities Crime Joint Investigation Team (led by Chief Prosecutor Shin Dong-hwan) announced on the 8th via a press briefing that a total of three ringleaders have been arrested and indicted on charges including violations of the Capital Markets Act and the Financial Real-Name Act. It is also understood that six accomplices were either not arrested or subjected to summary prosecution.

They are suspected of buying and selling stocks of KOSDAQ-listed companies through nominee securities accounts from December 2024 to April of the following year, driving up stock prices and illegally profiting at least 1.4 billion won.

According to the Prosecutors' Office, a 50-year-old male suspect identified as A, who acted as a ringleader, gathered individuals in the industry who could provide the 3 billion won in cash needed for the operation, as well as nominee accounts and burner phones. Investigations also revealed that A recruited individuals to carry out actual market manipulation and even employed the tactic of spreading false good news, known as "pasting pearls."

The Prosecutors' Office believes that a 50-year-old male suspect identified as B, who was then a manager at Daishin Securities, joined the scheme, thereby instilling confidence in other accomplices about the success of the crime.

Among them, it is understood that Mr. Lee provided principal funds and goods. Mr. Lee also signed an agreement with A to split profits equally and to push the stock price up to at least 7,000 won. Additionally, Mr. Lee has been added to the charges of bribery and is now facing trial.

Meanwhile, the Seoul Southern District Prosecutors' Office Financial and Securities Crime Joint Investigation Team summoned Yang Jeong-won on April 30 as a witness in connection with Mr. Lee's alleged stock price manipulation and the suspicion of obstructing the investigation.

It is reported that during the investigation into Mr. Lee's alleged stock price manipulation of KOSDAQ-listed companies, the Prosecutors' Office discovered that Yang Jeong-won had also traded the relevant stocks. Consequently, Yang Jeong-won was questioned about whether she knew that Mr. Lee had provided entertainment and gifts to a police officer in relation to police investigations targeting him, and whether she was aware of the allegations of stock price manipulation involving her husband.

The Prosecutors' Office arrested Mr. Lee after determining that he had provided money, goods, and entertainment to Detective Song, who was the head of the Investigation Division 1 at Gangnam Police Station, to suppress the investigation into Yang Jeong-won's alleged fraud charges.

Yang Jeong-won had previously been questioned for nearly seven hours as a suspect at the Seoul Gangnam Police Station on April 29 and returned home around 7:17 p.m. On that day, she stated, "I will cooperate fully with the investigation," and added, "I will definitely reveal any unjust aspects. I hope the truth comes to light clearly."

Meanwhile, Yang Jeong-won married Mr. Lee in May 2023 and gave birth to a son in December of the same year.

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*This content was translated by AI.