A KOSDAQ-listed sand-washing firm sprouted a fake bio pipeline in 2018 and vacuumed 35.4 billion won out of small investors. The accomplices got suspended sentences this month. The man who ran it did not show up.
A former Daishin Securities department head, an influencer's husband, and a man who reportedly compared himself to the lead of a Korean heist film were indicted this week in Seoul. The prosecution says the scheme used cash in a bag, burner phones, and dozens of borrowed-name accounts to move a single KOSDAQ stock.
By Elena Ruiz · May 8
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