According to JTBC Newsroom on the 27th, it was reported that Lim Chang-jung and his wife recently attended a celebration party for exceeding '1 trillion won in operating funds per day of stock price manipulation'. It is estimated that this multi-level stock price manipulation incident will be of the largest scale and cause the largest amount of damage among those known.
An employee of the trading team explained, "Each person managed more than 30 investor cell phones. When instructions were received from higher-ups through Telegram messages, the employees moved to the investor's home or office in perfect order and traded for the promised amount."
He continued, "The nickname is 'Carrot', and the person named 'Carrot' always placed the order. In November of last year, the operating funds already exceeded 1 trillion won and a 'Jojo Party' was held. The party was held at Mara, where investors' fees were paid. "We went to a soup restaurant, and Mr. Lim Chang-jeong and his wife also attended. People got together and had various fun events and had fun," he added.
It was confirmed that Lim Chang-jung sold a portion of his shares in an entertainment agency for 5 billion won to a stock price manipulation gang early this year and reinvested 3 billion won, but lost most of his investment when the stock price of SG Securities plummeted on the 24th.
Ryu Ye-ji, Ten Asia Reporter ryuperstar@tenasia.co.kr