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[Apha Biz=(Chicago) Reporter Paul Lee] After the stock price crash from SG Securities, Kiwoom Securities has been suffering from bad news related to the difference settlement transaction (CFD).
According to the financial investment industry on the 31st, prosecutors and financial authorities are spurring investigations and investigations into the securities industry, including Kiwoom Securities, in connection with the plunge in stock prices from SG Securities.
The Financial Supervisory Service recently confirmed that a related party of an executive of Kiwoom Securities sold certain stocks worth KRW 15 billion before the stock price plunge.
This was revealed in the process of checking whether Kiwoom Securities executives and employees used undisclosed important information for stock trading or whether internal control was appropriate in connection with the plunge from SG Securities. Following Kim Ik-rae, former chairman of Dow Kiwoom Group, executives' related parties also sold certain stocks, fueling a sharp drop.
Judging that further investigation is needed, the Financial Supervisory Service handed over related data to the prosecution in May. In response, prosecutors raided Kiwoom Securities' headquarters in Yeouido on the 28th over former chairman Kim's sale of 60.5 billion won worth of Dow Data shares. This is the second investigation following the seizure search in May. At that time, it was reported that CFD-related data was secured.
Prosecutors are analyzing the confiscated materials, believing that Kim may have grasped undisclosed information through Kiwoom Securities before stock prices of eight stocks, including Dow Data, plummeted. It is checking whether it has made profits of tens of billions of won after deciding when to sell through actual related information.
The prosecution also booked former chairman Kim on charges of violating the Capital Markets Act and believes executives and employees of Kiwoom Securities' strategic management office may have been involved in the deal. However, it is reported that there is no conspiracy situation with La Deok-yeon's party in the background of this profit.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
