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Deutsche Motors Chairman Kwon Oh-soo was arrested on suspicion of stock manipulation. The prosecution's investigation into Kim Gun-hee, the wife of candidate Yoon Seok-yeol, who is also suspected of being involved in stock price manipulation due to Chairman Kwon's arrest, is also expected to gain momentum.
Reporter Won Jong-jin reports.
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Oh-su Kwon, chairman of Deutsche Motors, who is accused of stock price manipulation, was arrested last night (16th).
Judge Lee Se-chang of the Seoul Central District Court issued an arrest warrant for Chairman Kwon, saying that there is a risk of destroying evidence.
Chairman Kwon is accused of manipulating the stock price of Deutsche Motors by colluding with so-called “players” from 2009 to 2012.
The three accomplices designated as players are in custody and have been handed over to trial.
In Chairman Kwon's warrant review court, the issue was whether there was actual stock price manipulation.
Prosecutors claimed that there were hundreds or thousands of fake transactions and market manipulation transactions between 2009 and 2012, while Chairman Kwon countered that it was unreasonable to manipulate stock prices for a long period of three years. I sided with the prosecution.
As Chairman Kwon is arrested, the prosecution's investigation into Yun Seok-yeol's wife Kim Gun-hee is also expected to gain momentum.
Kim is suspected of playing the role of Jeonju by entrusting 1 billion won to Lee Mo, one of the stock price manipulation players, in January 2010.
Mr. Lee was also requested for an arrest warrant last month along with other accomplices, but he went into hiding before the substantive examination, and the prosecution caught him and arrested him last week.
Regarding the suspicion of Kim's involvement, Candidate Yoon's side completely denied it, saying, "I recovered my account while inflicting damage and ended my relationship with Lee."