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Photo Credit: Financial Supervisory Service (FSS) |
[Alpha Biz= Paul Lee] The Financial Supervisory Service (FSS) is reportedly investigating the funds related to Samboo Engineering & Construction, a company that became a hot topic in the Ukraine reconstruction sector and was later suspected of stock price manipulation. The investigation is focused on tracking the 100 billion KRW in profits generated by the major stakeholders, including the company's largest shareholders.
A FSS official explained that the investigation began last September when the Korea Exchange submitted the results of abnormal trading analysis. The investigation team, consisting of four members, is currently running.
Lee Jong-ho, the former CEO of Black Pearl Investment, is suspected of being a key figure in the Deutsche Motors stock price manipulation case and is also alleged to be involved in a lobbying effort to help Im Seong-geun, a former Marine Corps Division Commander.
Opposition parties have raised suspicions of stock manipulation, citing that Lee posted a message titled "Samboo tomorrow check" in a group chat, which was followed by a sharp increase in Samboo Construction's stock trading volume and price.
Samboo Construction attended the Ukraine Global Reconstruction Forum in Poland in May 2023 and was categorized as a Ukraine reconstruction stock. Following this, its stock price, which was in the 1,000 KRW range, surged to as high as 5,500 KRW in July 2023.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
