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.
Daou Kiwoom Group Chairman Kim Ik-rae has angered investors with his suspicious sales of Daou Data shares, shortly before the stock s abrupt decline. It remains unclear whether Kim is involved in the escalating stock scandal surrounding eight companies that experienced plummeting stock prices for no apparent reason.