Source: Yonhap News
A securities company employee who was involved in Deutsche Motors stock price manipulation testified in court that Deutsche Motors Chairman Oh-su Kwon traded stocks in the account of Mrs. Kim Gun-hee to defend the stock price.
At the trial of Chairman Kwon on suspicion of stock manipulation, which was held at the Seoul Central District Court’s Criminal Settlement Section 23 hearing, the prosecution said, “When Kim, a former securities company employee, asked Chairman Kwon to ‘protect the stock price’ in July 2012, he immediately transferred Deutsche Motors to Deutsche Motors’ account. 1,500 stocks were purchased,” he said, revealing text messages they exchanged.
At that time, the stock price of Deutsche Motors had plummeted from 8,000 won to 3,000 won in several months. yes,” he replied.
Prosecutors also disclosed the details of the sale of Deutsche Motors stocks in large quantities using the so-called ‘block deal’ method, which involves mass trading at a time other than the trading hours of Kim Gun-hee’s account. They made a block deal because they wanted to buy cheap.”
Currently, the prosecution is investigating the allegation that it was the so-called ‘Jeonju’, in which Mrs. Kun-hee Kim paid money for the stock manipulation process of Chairman Kwon and Mr. Kim.
