Stock Trading Scandal: Jung Yong Hwa Blameless  Yet Lee Jong Hyun Fined

Stock Trading Scandal: Jung Yong Hwa Blameless Yet Lee Jong Hyun Fined

AT LEAST This situation ENDED In short AND ALL'S WELL.

CNBLUEleaderJung Yong Hwa, who was oncelatelybelow investigation for unlawful insider trading, has been discharged of all charges. His bandmate,Lee Jong Hyun, becamealternatively slapped with a fine of 20 million won ($17,300) for a similar offence.

On June 29, prosecutorssaid thatJung Yong Hwa was being investigated for allegedly profiteering two hundred million won ($171,600) from insider trading. He was stated to have bought 21,000 FNC stocks after he learnt that the corporate was seeking tosignal contract with most sensible comedianYoo Jae-sukon July 2015. After signing the deal on 16 July 2015, the inventoryworthinstantly surged from 20,800 won to 27,000 won.

AdvertisementThe investigation concluded that the stocks were no longerpurchased afterward the discussion to sign Yoo Jae-suk began. Furthermore, Jung Yong Hwa was now notconscious about the deal as it was kept under wrapped. It was also disclosed that Jung Yong Hwa has entrusted his price range to his mother, and the stocks were in realitysoldvia her. He had no wisdom close to the purchase. He handiest sold one of the crucial stocks, when Yoo Jae-suk was effectively signed with FNC Entertainment.

However, CNBLUE's Lee Jong Hyungot wind ofthe knowledge from an acquaintance that his firm would be signing a height celebrity. Without verifying the facts, he went forwardto buy the FNC stocks. Later, when he learned his action would motiveattainablefelony issues, he held directly to the stocks as an alternativeof promoting them. The prosecution determined that he has deeply regretted his actions, and penalized him with a fine only.

This article is contributed by HelloKpop and would notconstitute the perspectives or critiques of KpopStarz.

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