An employee of KB Kookmin Bank has been arrested for gaining an illicit profit of 6 billion KRW using undisclosed information.
According to the financial sector on the 12th, the Financial Supervisory Service's Capital Market Special Judicial Police (Special Police) announced the previous day that they had arrested employee A from KB Kookmin Bank's Securities Agency Business Department on charges of violating the Capital Markets Act.
While working in this department, A is accused of using undisclosed information related to listed companies' free capital increases to trade about 60 stocks from 2021 to 2023, earning approximately 6 billion KRW in illicit profits.
The Special Police plan to apply for arrest warrants for other employees in the same department, starting with A.
Previously, the Financial Services Commission and the Financial Supervisory Service notified the prosecution of allegations of unfair trading using undisclosed information by employees of KB Kookmin Bank's Securities Agency Department through an emergency action (fast track) by the Securities and Futures Commission Chairman. In August, the Special Police raided KB Kookmin Bank's headquarters office and secured related materials.
The total amount of illicit trading profits is estimated to be around 12.7 billion KRW.
https://www.sankyungtoday.com/news/articleView.html?idxno=47004
KB Kookmin Bank Employee Arrested for Gaining 6 Billion KRW in Illicit Profits Using Undisclosed Information
An employee of KB Kookmin Bank has been arrested for gaining an illicit profit of 6 billion KRW using undisclosed information.According to the financial sector
www.sankyungtoday.com
