The Financial Supervisory Service submitted a counter-appeal against the appeal filed by the defendant in the 'Stock Price Manipulation Ring Leader' case. The Seoul Southern District Court recognized the evidentiary power of evidence collected by the Joint Response Team, but ruled that the defendant's right to defense was not sufficiently guaranteed because the deadline for returning seized materials was not met. This case is known as a case where financiers, asset management company executives, and others allegedly mobilized 100 billion won to manipulate the stock prices of DI stocks with low daily trading volume. The court dismissed the arrest warrants for four defendants and said it would wait for the results of the appeal process. This case is drawing attention as the first stock price manipulation case handled by the Joint Response Team, which was launched after President Lee Jae-myung emphasized cracking down on unfair trade practices.
