Singer Lee Seung-gi's father-in-law, Mr. Lee, was sentenced to three years and six months in prison and a fine of 400 million won on charges of manipulating the stock prices of KOSDAQ-listed companies for unfair profits. Mr. Lee, along with former prosecutor investigator Mr. Lee, artificially raised stock prices through projects such as 'Pearl' and earned hundreds of billions of won in profit. In particular, they raised the stock prices of Central Advanced Materials and Quantapia by more than 10 times, and also participated in manipulating the stock price of X-Cue, a semiconductor manufacturer, to compensate for losses due to trading halts. Mr. Lee stated his position that he would sever ties with his in-laws.
