[Alpha Biz=(Chicago) Reporter Kim Jisun] Prosecutors on the 20th launched a raid on three foreign securities firms and banks involved in the illegal public sale case.

The Seoul Southern District Prosecutors' Office said it has been issuing search and seizure warrants for three financial firms -- UBS, Macquarie Securities and Citibank -- since earlier in the day.

Prosecutors reportedly launched a raid on the same day to secure data on foreign financial investment firms under investigation on charges of violating the Capital Market Act (such as fraudulent transactions) by acquiring unfair profits through naked short selling.

Meanwhile, the Seoul Southern District Prosecutors' Office also raided three financial companies - BNP Paribas Securities, HSBC Securities and HSBC Bank - in connection with illegal short selling.

 

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