Former Black Pearl Investment CEO Lee Jong-ho, known as the account manager for Kim Keon-hee, was arrested on the 5th.
On this day, the Chief Judge of the Seoul Central District Court, Nam Se-jin, conducted a substantive examination of the warrant for the former CEO Lee, who is accused of violating the attorney-at-law act, and determined that there was a risk of evidence destruction, issuing a warrant for his arrest.
Earlier, the Kim Keon-hee special prosecutor's office summoned Lee for questioning three times and applied charges of violating the attorney-at-law act, requesting an arrest warrant on the 1st.
Former CEO Lee is accused of receiving over 80 million won from Lee Jeong-pil, the main perpetrator of the first stock price manipulation of Deutsch Motors, on 25 occasions between June 2022 and February 2023, and promising to help him receive a suspended sentence instead of imprisonment in his criminal trial.
Meanwhile, former CEO Lee was indicted along with eight others, including former Deutsch Motors Chairman Kwon Oh-soo, for involvement in stock price manipulation that occurred between 2009 and 2012, receiving a confirmed suspended prison sentence from the Supreme Court. In this case, former CEO Lee is reported to have led the manipulation of stock prices using borrowed accounts during the second operation period, which is classified as from October 2010 to December 2012.
The court found that three accounts belonging to Kim Keon-hee and one account belonging to her mother, Choi Eun-soon, were used for price manipulation, and former CEO Lee was identified as the individual managing Kim's accounts.