In connection with allegations that an incumbent police officer leaked investigation information to a suspect while currently investigating a stock manipulation case, prosecutors have identified additional people involved and launched a compulsory investigation.
According to legal sources on Apr. 9, the Financial and Securities Crime Joint Investigation Unit of the Seoul Southern District Prosecutors' Office (headed by Director General Shin Dong-hwan) is executing a search and seizure at the Korean National Police Agency headquarters today.
While investigating a stock manipulation case involving a former Daishin Securities employee, a businessperson, and A, who is a famous influencer's spouse and a wealthy individual, prosecutors are said to have identified indications that a superintendent-level police officer affiliated with the Korean National Police Agency leaked investigation information.
Earlier, prosecutors also found similar indications involving a Head of Team at the Gangnam Police Station and conducted a search and seizure of the station on Mar. 27.
A and others are said to have engaged in cross trading—prearranging bid and ask prices and buying and selling at set times—to manipulate the share price of a KOSDAQ-listed company, and to have used securities firm clients' accounts or borrowed-name accounts.
Some of those accused of participating in the stock manipulation were indicted and detained on Apr. 23. However, A's arrest warrant was rejected, and A is being investigated without detention.