Kakao executives detained on suspicion of violating capital market laws by manipulating SM stocks

Kakao Investment Manager’s representative Pei Zaixian and other individuals were arrested on suspicion of manipulating SMtown stocks, as reported by Korean media on October 19th. The police stated that the investment was made in February to prevent HYBE from buying 200,000 shares publicly, raising the shihone stock price above PHOENI’S public acquisition price. A court determined that this violation of capital market laws resulted in an arrest warrant being issued.

Leave a Reply

Your email address will not be published. Required fields are marked *

Translate »