Special Prosecutor Min Joong-ki, who is handling the Kim Keon-hee special probe, explained regarding allegations that he earned hundreds of millions of won in revenue through insider information transactions when he was a Director General judge, saying he sold the stock at the recommendation of a securities firm employee.
Min said in a media notice on the 17th, "In early 2000, I invested about 30 million to 40 million won in the company through an acquaintance, not a company official, and around 2010, at the recommendation to sell from a securities firm employee, I sold the company's stock for a little over 130 million won."
The special counsel investigating the Deutsch Motors stock-manipulation case also checked and investigated records showing that Kim bought and sold the company's stock in 2009.
Earlier, Min was reported to have invested in unlisted shares of the solar materials company Neosemitech and sold them right before delisting, making a profit in the hundreds of millions of won. The company is a solar materials firm that was delisted in 2010. At the time, it became known for accounting fraud after causing losses to more than 7,000 small investors.
In this case, a person surnamed Oh, the former CEO of Neosemitech, was indicted on charges of issuing fake tax invoices and accounting fraud, and in June 2016 received a finalized sentence of 11 years in prison. Min is known to have attended Daejeon High School and Seoul National University with Oh.