Prosecutors recall Kwon Oh-soo, chairman of Deutsche stock price manipulation


▲ Kwon Oh-soo, Chairman of Deutsche Motors

Prosecutors investigating allegations of manipulation and breach of trust in Deutsche Motors have again summoned Chairman Kwon Oh-soo.

The Seoul Central District Prosecutor’s Office Anti-Corruption and Violence Investigation Division 2 (Chief Prosecutor Jo Joo-yeon) is investigating today (11th) by calling Chairman Kwon as a suspect.

Chairman Kwon, who was investigated by the prosecution once on the 2nd, was also summoned privately on this day to avoid reporters.

While serving as the largest shareholder and CEO of Deutsche Motors, Chairman Kwon is accused of leaking internal information to boost stock prices and manipulating stock prices to prevent stock price declines.

He induces stock purchases by inducing stock purchases by informing people about the company’s good fortune, such as advancing into foreign car after-sales business, conducting joint ventures for online sales of used parts, and attracting foreign private equity investment, etc. It is known that the stock price has risen.

Chairman Kwon is also accused of mobilizing external forces as ‘players’ to form a stronger buying force.

Prosecutors indicted on the 25th of last month two people, including Lee Mo, the CEO of an investment company, who participated in stock price manipulation as a ‘player’ on charges of violating the Capital Market and Financial Investment Business Act. He was sent to trial on the same charge on the last 5 days.

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