A former Daishin Securities employee, identified as A, was arrested on the 5th on suspicion of conspiring with a stock price-rigging ring to manipulate the share price of a KOSDAQ-listed company.
Kim Ji-hyun, the warrant-judge Director General at the Seoul Southern District Court, held a pretrial detention hearing (substantive warrant review) for A on this day, who was sought on a detention warrant on charges of violating the Financial Investment Services and Capital Markets Act, and issued the warrant, saying there was a risk of evidence destruction and flight.
A, who worked at a Daishin Securities branch in Gyeonggi Province at the Director General level, is known to be suspected of colluding with a price-rigging ring early last year to take part in manipulating a KOSDAQ-listed company's stock price.
The Joint Investigation Team on Financial and securities Crimes at the Seoul Southern District Prosecutors' Office, which is currently investigating the case, conducted searches and seizures on the 24th at Daishin Securities' headquarters in Jung-gu, Seoul, among other locations.
Daishin Securities conducted an internal inspection in June last year and reported A to the Namdaemun Police Station in Seoul in August. A was dismissed late last year.