On the 4th, Kim Keon-hee's special prosecutor stated that on the 1st, charges were filed against Lee Il-jun, the chairman of SAMBU Construction, and Lee Eung-geun, the former representative of SAMBU Construction, regarding the 'stock price manipulation' allegations.
At a regular briefing that afternoon, special prosecutor Moon Hong-ju said, "Last Friday (the 1st), we detained and indicted Chairman Lee and former representative Lee on charges of violating the Capital Markets Act."
The special prosecutor believes that Chairman Lee, former representative Lee, former chairman Jo Sung-ok, and current vice chairman Lee Gi-hoon, among others, colluded to illegally gain a total of 36.9 billion won.
Earlier, the special prosecutor applied charges of fraudulent transactions under the Capital Markets Act against them, requesting a detention warrant on the 14th of last month. Chairman Lee and former representative Lee were detained on the 18th of last month.
Chairman Lee established Daeyang Construction in Naju, Jeollanam-do, in 1993 and was engaged in real estate development before acquiring several KOSDAQ-listed companies in 2018. After changing the name of the company acquired in 2021 to DYD, he acquired the equity of SAMBU Construction owned by former chairman Jo through DYD in 2023.
The allegations of stock price manipulation at SAMBU Construction are said to be linked to a surge in stock prices in 2022-2023, attributed to the intervention of stock price manipulation forces as SAMBU Construction emerged as a theme stock for reconstruction in Ukraine.
Lee Jong-ho, former representative of Black Pearl Investment, who managed the accounts of Kim Keon-hee, wife of former President Yoon Suk-yeol, reportedly sent a message in a KakaoTalk group chat with acquaintances who are veterans of the Marine Corps on May 14, 2023, stating, "Check SAMBU tomorrow."
Two days later (May 16), the couple met with Olena Zelenska, wife of Ukrainian President Volodymyr Zelensky. Six days later (May 22), Won Hee-ryong, then Minister of Land, Infrastructure and Transport, and SAMBU Construction officials attended the Ukraine Global Reconstruction Forum held in Poland.
Next, on May 23, SAMBU Construction announced that it had signed an MOU related to reconstruction projects with the city of Mariupol in Ukraine and Polish construction companies. The stock price of SAMBU Construction remained in the 1,000 won range until mid-May 2023 but soared to 5,500 won during trading in mid-July.