[Alpha Biz=(Chicago) Reporter Paul Lee] Prosecutors have frozen assets of a group of people suspected of being involved in stock price manipulation by electric car maker Edison Motors.

According to legal circles on the 27th, the Seoul Southern District Prosecutors' Office collected and preserved about 14.7 billion won in assets of six stock price manipulation forces over two days on the 19th and 23rd.

The prosecution analyzed the account transaction details and found the borrowed-name property through an investigation of those involved to obtain the court's decision to cite the preservation of the collection. It has been confirmed that these groups denied possessing borrowed-name property.

They are accused of raising stock prices of related companies and taking advantage of Edison Motors' favorable factor in acquiring Ssangyong Motor.

Earlier in October last year, the Seoul Southern District Prosecutors' Office's Joint Investigation Department on Financial Securities Crimes indicted former Edison Motors Chairman Kang Young-kwon and three executives. Two of them are on trial under arrest.

The prosecution, which has continued its investigation, indicted six Edison Motors stock price manipulation forces in December. On the 19th, three more leaders of Edison Motors' stock price manipulation were arrested and investigated.

 

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