"20 billion unfair gains from manipulating the market"...Quantafia Investor Charges

The Seoul Southern District Prosecutors' Office has put a 58-year-old investor, identified only by his surname Lee, on trial on charges of artificially raising stock prices and earning tens of billions of won in unfair profits.

Lee is accused of making unfair profits worth 14 billion won and 1.1 billion won, respectively, by manipulating the market price of Quantapia, a central high-tech material and renewable energy company.

Lee is also accused of earning an unfair profit of 5 billion won from Quantafia's false disclosure of convertible bonds.

In fact, Quantafia's stock price rose from 700 won per share last year to 4,700 won per share.

The prosecution also arrested Kim, a Quantafia investor and former police officer who is accused of the same charges as Lee yesterday (14th).