(Photo = Yonhap news)

 

[Alpha Biz=(Chicago) Reporter Paul Lee] The head of private equity fund Oneasia Partners, who is suspected of colluding with Kakao to manipulate the market price of SM Entertainment shares, has been arrested.

According to legal circles on the 27th, Han Jung-seok, a senior judge at the Seoul Southern District Court, issued an arrest warrant for Oneasia Partners CEO Ji, who is suspected of violating the Capital Market Act and the Financial Investment Business Act. The reason is the fear of destroying evidence and fleeing.

With the aim of obstructing Hybe's public purchase of SM Entertainment, CEO Ji is suspected of colluding with Kakao to invest some 240 billion won to manipulate the market price of SM Entertainment shares.

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