“On October 18 KST, police arrested Bae Jae Hyun, Chief Executive of Kakao Investment, for suspicions of stock manipulation earlier in February of this year.
It's believe that Bae Jae Hyun and other executives at Kakao violated the Capital Market Act in February of this year, at the height of Kakao's bid for the acquisition of SM Entertainment. When a competitor, HYBE Corporation, made a public offer for SM Entertainment stocks, Kakao allegedly invested 240 billion Won ($177,922,080.00 USD), manipulating SM Entertainment's stock value above the price offered by HYBE.“
Kakao Executive, Company Indicted for Alleged SM Entertainment Stock Manipulation Scheme (Report)
Kakao chief investment officer Bae Jae-hyun is accused of inflating SM’s share price to thwart HYBE’s bid for a stake in the K-pop company earlier this year.
www.billboard.com
Chief Executive of Kakao Investment arrested for suspected stock manipulation during SM Entertainment acquisition
On October 18 KST, police arrested Bae Jae Hyun, Chief Executive of Kakao Investment, for suspicions of stock man…
www.allkpop.com
