It was belatedly confirmed that police carried out additional raids in connection with allegations that Daol Investment & Securities(030210) received funds through backdoor support from its subsidiary Daol Savings Bank.
Park Jung-bo, Seoul Metropolitan Police Agency Commissioner, said on the 27th at a regular press briefing that Daol Investment & Securities and Daol Savings Bank were searched and seized for a second time. The Financial Crime Investigation Unit of the Seoul Metropolitan Police Agency's Metropolitan Investigation Division executed search warrants on the 2nd of last month and is currently analyzing the seized materials and questioning those involved.
Earlier, financial authorities asked for an investigation in connection with allegations that Daol Savings Bank put funds into other securities firms' wrap accounts or specific money trusts, and the money then flowed back to Daol Investment & Securities. Police also raided Daol Investment & Securities and Daol Savings Bank in March.
An alleged deceptive advertisement fraud related to SpaceX IPO shares by Korea Investment Management was transferred from the Yeongdeungpo Police Station to the Financial Crime Investigation Unit. Commissioner Park said, "We will conduct a thorough investigation in accordance with the law and principles."
Commissioner Park explained that allegations of Unfair Competition Prevention Act violations by the Head of Team of the delivery platform "Ddangyo" have been classified as an industrial technology leakage case and are being investigated by the National Security Investigation Unit.