The Seoul Southern District Prosecutors’ Office’s Joint Financial Securities Crime Investigation Team and the Financial Services Commission and Financial Supervisory Service’s joint investigation team executed an arrest warrant at CEO Ra’s home at 10:25 a.m. and sent it to the prosecution office for investigation.CEO Ra is accused of receiving personal information such as mobile phones and securities accounts from investors and raising stock prices by buying and selling stocks in advance.
He was interviewed as a victim himself. He showed the balance of the account, showed the amount of loss, mentioned his family, and said he was a credit delinquent.However, it is difficult to understand the circumstances, and it is being investigated one after another, including the purchase of overseas resorts and golf courses.Prosecutors will also investigate allegations that they received part of their profits as commission fees through corporations unrelated to investment, embezzled criminal profits, and evaded taxes, and ran an investment advisory company without registering with financial authorities.The Korean prosecution set up a joint investigation team with financial authorities on the 28th of last month to investigate the collapse and has booked Ra and his aides who participated in stock price manipulation on charges of violating the Capital Markets Act.Prosecutors executed them on the same day after obtaining arrest warrants the previous day on charges of violating the Capital Markets Act (market price manipulation, unregistered investment discretionary business) and violating the Criminal Proceeds Concealment Act. Korea is taking a toll on people’s sentiment and the family economy due to the LUNA Bitcoin-related capital pattern, stock price manipulation, and real estate financial fraud (not returning deposits due to high house prices).
Attention is focusing on what measures and solutions Korea will take in the future, which is creating a chaotic political situation for the accumulation of wealth among political, government, and business leaders.
Sophia Kim
US ASIA JOURNAL
