(Society) “It will soon be listed on the stock exchange.” daily wages selling at 100 times the price of unlisted shares

Seoul’s Western District Prosecutors’ Office has arraigned two people, including the head of an unsanctioned investment company and its headquarters manager, without custody on charges of selling unregistered shares at inflated prices as if they were going to be listed on the stock exchange.

They are accused of stealing 8.9 billion won from 761 people by selling unregistered shares with no plans to go public within a year from May 2021 at a price 100 times the original purchase price.

The group lured investors by running a trading room that was found to have misled investors by publishing false reports that the unlisted consulting firm’s returns were as high as 481%.

The prosecution also applied the crime of organization of criminal organizations, believing that they systematically cheated investors to steal money under the direction of the CEO.

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