Police have reportedly launched an investigation into Namgung Gyeon, chairman of Fantagio, over allegations that he unfairly used nonpublic information of a KOSDAQ-listed company. Fantagio is a co-producer of the drama "Chief Kim."
According to police on the 8th, the Financial Crime Investigation Unit of the Seoul Metropolitan Police Agency's Major Crimes Division took over from Mapo Police Station on the 22nd of last month a complaint accusing Chairman Namgung of violating the Financial Investment Services and Capital Markets Act and is currently investigating.
After receiving the complaint in June, the Mapo Police Station questioned the complainant last month and then transferred the case to the Financial Crime Investigation Unit.
The complainant, a shareholder of Humasis, a KOSDAQ-listed medical device company, claims that Chairman Namgung, as the company's de facto owner, provided some shareholders in advance with nonpublic information on key businesses and share buybacks, influencing their investment decisions.
Chairman Namgung has reportedly flatly denied the allegations.