Investment Adviser Executives Denied Allegations At Appeals for 'Involving Deutsche Stock Price Manipulation'

An investment advisory executive accused of participating in a suspected Deutsche Motors stock manipulation case has denied the allegations in his first trial at an appeals court.

Investment advisor executive Min claimed in a trial held at the Seoul High Court today (12th) that there was no conspiracy to manipulate stock prices and that he had never participated in market price manipulation.

On the other hand, the prosecution said there was a misunderstanding in the judgment of the first trial about some of the transactions.

The court will proceed with the trial after seeing the results of the appeal of Kwon Oh-soo, former chairman of Deutsche Motors, the main culprit of the stock price manipulation case.Mr.

Min was put on trial for conspiring with former Deutsche Motors chairman Kwon Oh-soo between 2009 and 2012 to artificially boost Deutsche Motors' stock price and earn 10 billion won in unfair profits.

In October last year, the first trial sentenced Min to one and a half years in prison, three years of probation, and a fine of 150 million won.

Min is also suspected of being involved in the preparation of an Excel file titled 'Kim Gun-hee' in which the details of Kim Gun-hee's stock transactions are recorded.