Prosecutors have launched an investigation into allegations that former Daou Kiwoom Group Chairman Kim Ik-rae was involved in a stock manipulation scheme that caused the share prices of eight companies plummeting for no apparent reason in May.
Prosecutors investigating a suspected case of large-scale stock manipulation have secured detailed transaction data for the stocks allegedly used by price manipulators, informed officials said Thursday.
Korea s top financial watchdog has launched an investigation into Kiwoom Securities to look into whether the company engaged in unfair sales of a contract for difference (CFD). The risky leveraged derivative is considered to have driven the latest stock manipulation scandal which incurred combined losses of around 8 trillion won within only four days late last month.
Two figures involved in the latest stock manipulation scandal are escalating ensuing legal battles and claiming innocence regarding the abrupt collapse of eight listed shares here.