The result of the investigation of insider trading at FNC Entertainment had been revealed.
Jung Yonghwa and Lee Jonghyun of CNBLUE were either defendant of unlawfulinventory trades made at thefoundation of FNC gaining a new, noted celebrity. However, after the 2 were wonderedby skill of police and taken to court, FNC sent out a press liberate revealing the results, stating, "Jung Yonghwa used to begoverned as now notto blameand should not have any punishment. However, Lee Jonghyun become indicted and should pay a fine of 20 million won (approximately $17,400 USD).
Shares of FNC Entertainment valued at around 400 million won (approximately $350,000) were boughtbelow Yonghwa's call on July 8-9, 2015. Even if he was accused of creating the acquire alongside insider information, it was printedduring the investigation that FNC had not even begun discussing signing Yoo Jaesuk at that time, making it not possible for Yonghwa to have purchased the stocks illegally.
AdvertisementAdditionally, since Yonghwa's funds are controlled by his mother, she is the user whoif fact exist told made the purchase. At the time, Yonghwa had no concept that she had purchased the shares. Discussions of the famous superstar signing with FNC Entertainment handieststarted on July 16, 2015.
In Jonghyun's case, overdue at night, a close acquaintance told him about the famous megastar signing with FNC. Without verifying the tip, Jonghyun purchased shares of FNC the very next morning.
However, after studying that the buycan have been illegal, he determinedto hang onto the stocks instead of sell them.
The two have statedthat they're both deeply reflecting on their actions.
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