FNC Entertainment Addresses Suspicions Of Inventory Manipulationkokoberry June 23, 2016 0 FNC Entertainment is being investigated for suspicions of unfair profits fabricated from stock manipulation.
A finance investigation team from the prosecutors administrative center has seized and searched the house of famous person A and a friend, the agency, and several locations. It turns out that A used knowledge about their firm recruiting noted celebrities and purchased stocks with long term net profit in mind. This act of insider trading violates Koreas Capital Marketplace Act.
A and the friend are suspected of earning 2 hundred million won (approximately $175,000) after purchasing stocks because of their wisdom of Yoo Jae Suk being recruited to the agency final July.
FNC Entertainment denied the suspicions and stated, The stock manipulation suspicions are groundless. We might beready to actively cooperate with the prosecutors investigation.
The agency continued, The dealings in stocks last July were judged as an ordinary transaction. It is an argument unrelated to stock manipulation.
Lastly, they added, This isn'tassociated with headquarters yet rather a false impression that got here from an individualcomparable to the corporate who made a private stock deal.
FNC Entertainment is house to many celebrities adding Yoo Jae Suk, Noh Hong Chul, Jung Hyung Don, Lee Guk Joo, FTISLAND, CNBLUE, AOA, Lee Dong Gun, Jung Woo, and more.
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