CNBLUE’s Jung Yong Hwa Under Investigation For Insider Trading

[theemii.livejournal.com]

It was previously reported that an artist housed under FNC Entertainment was suspected of stock manipulation. It has now been reported that the artist under investigation is CNBLUE’s leader Jung Yong Hwa.

On June 28, a chief prosecutor summoned singer Jung Yong Hwa to be investigated as the celebrity behind the crime of insider trading. He is reportedly being investigated for allegedly earning 200 million won (approximately $175,000) through buying stocks in FNC Entertainment after learning about their plans to sign a major celebrity, who is speculated to be Yoo Jae Suk.

In response to this suspicion, an affiliate of FNC Entertainment stated, “The prosecution is investigating this case and we believe that it is wrong to reveal any information to outsiders of the investigative agency.”

The prosecution is currently investigating when Jung Yong Hwa learned this inside information, and looking into detailed accounts of the stock trading.



Article: Jung Yonghwa under investigation for stock manipulation

Source: Segye Ilbo via Nate

1. [+495, -25] I knew he'd get caught
- He got caught because he's innocent. True masters of stock manipulation don't do stuff that's obvious like this ㅋㅋㅋ he got used by Han Sung Ho
- Han Sung Ho made 70 billion won in stocks and has to pay three times that much in penalties if he gets caught so he made Jung Yonghwa do it too to create a distraction since Jung Yonghwa will only have to pay three times as much as his 400 million won profit. Jung Yonghwa's basically being used as the bullet shield for Han Sung Ho ㅋㅋㅋ

2. [+461, -20] I was wondering when news of this would go up, finally it has

3. [+373, -11] Well it's really immoral of if he did it after finding out exclusive company information for that profit...

4. [+54, -3] News of this was already up on Pann ㅋ

5. [+49, -4] When blind items of this was going around, everyone kept saying it was Lee Hongki because Lee Hongki mentioned a few times on TV shows that he should've bought stocks if he knew Yoo Jae Suk was going to join the company. People accused him of jumping the gun... but hey, he was actually clean and it was Jung Yonghwa eating up all the profits behind the scenes ㅋㅋ

6. [+49, -5] Does he not realize how big of a crime insider trades are? ㅋㅋㅋㅋ Totally got caught with stock manipulation. That's one of the more serious, mid level crimes out of all the white color crimes ㅋㅋㅋㅋ

7. [+39, -6] Hul so it was Jung Yonghwa..

8. [+37, -7] ㅋㅋ Bye

9. [+36, -3] If he had just bought it and left it at that, he could've just made up excuses like the price rising when he bought it without thinking but the fact that he bought the stocks right before Yoo Jae Suk signed and then sold them right away leaves no excuse for him.

10. [+33, -2] Kyah, he's going to pay the price for that easy money



Source: Naver

1. [+5,847, -99] ㅋㅋㅋㅋㅋ What a disappointment... he's done for

2. [+4,494, -185] Wow... I was wondering when this was going to be revealed because people kept blaming Le Hongki for it. I'm thankful for this article. Please leave FT Island alone now.

3. [+4,067, -96] Finally his name has been released

4. [+3,284, -115] ㅠㅠ He was perfect and now he's done for

5. [+1,765, -64] ㅋㅋㅋㅋㅋㅋㅋㅋㅋ To him, Yoo Jae Suk was just another money making scheme

6. [+1,540, -47] Jung Yonghwa had such a positive image and now that's all ruined

7. [+1,428, -40] Well if his name is being released, then that means he's pretty much confirmed...

8. [+1,378, -38] Finally it's in the media. Farewell~ Your CEO will be joining you shortly~

Article: Jung Yonghwa reps, "We will give a statement once investigations are over"

Source: Nate

1. [+114, -4] This actually makes me mad. He was a guest on 'Running Man' and even on 'Infinity Challenge' with Yoo Jae Suk and he dares to use him as a money making scheme?

2. [+89, -1] He used Yoo Jae Suk to make money while sitting on his variety shows and laughing with him... the thought of that gives me goosebumps

3. [+84, -1] How could he even think of standing next to Yoo Jae Suk on 'Infinity Challenge' after using him for money like that?

4. [+19, -1] Yoo Jae Suk joined the wrong company

5. [+16, -2] Don't mess with Yoo Jae Suk

6. [+14, -2] What statement is there to give? ㅋㅋ "I'm sorry"? ㅋ

7. [+12, -3] Farewell ❤

8. [+9, -1] Whether you release your statement now or later, it doesn't matter because your image is done for anyway ^^ stop waiting to come up with an excuse by dragging it out and just put out a statement now


Source: Soompi sedaily & Netizenbuzz nate 1 naver

Comments

[caipirinhas.livejournal.com]

Ugh, there was a rumor about a "leader" of one of FNC's groups. I'm really disappointed it has turned out to be Yonghwa. This will likely tarnish CNBlue's rep pretty hard if it turns out to be true.

[cafetin99.livejournal.com]

[purechy914.livejournal.com]

noooo i'm going to be so sad if it turns out to be him :/ CNBLUE was my first concert ever and since then they've been dear to my heart

[hyungmoney.livejournal.com]

lmfaooo mess

[ah0000.livejournal.com]

Yikes.

[ddeadmeat.livejournal.com]

Shit son

[kirrita.livejournal.com]

#SaveYooJaeSuk
#FreeYooJaeSuk

[jaelissi.livejournal.com]

2. [+89, -1] He used Yoo Jae Suk to make money while sitting on his variety shows and laughing with him... the thought of that gives me goosebumps
Why did YJS become the victim? Yoo JaeSuk dunn curr

[soyunatetera.livejournal.com]

Is YJS a victim tho? I mean they didn't steal him money, they used priviliged information to used it on stocks... The only way YJS is a victim is him getting involved in this shady company in the first place

[opd-devil.livejournal.com]

Dang.

[yohan94.livejournal.com]

was it worth it? yikes

[jinkiestabi.livejournal.com]

2016 is pulling no punches. Yikes.

[sra-interesante.livejournal.com]

yonghwa seem a smart guy with kinda clean reputation but ... this is really dumb and of course illegal
if he's found guilty he should face a punishment

[myra9.livejournal.com]

YJS should never have joined FNC.

[kairoso.livejournal.com]

oh shit

[aeromi.livejournal.com]

i dont really see the issue with this?

[shiroki-tenshi.livejournal.com]

Can I ask why you don't see an issue with this? Just want to know before I try to explain :)

[aeromi.livejournal.com]

I know its technically unfair but dont most stock people do this? Like one of those rules that no one actually follows?

[shiroki-tenshi.livejournal.com]

It could be the case where a lot of people do it but that would mean knowing people that are privy to that kind of information. I guess it would only cause red flags if you put a large dollar amount down and the stock price rose, which leads to a pretty penny, or you sell a whole bunch before there is big news that causes the stock price to crash.

I would also say it's officially unfair because markets react to news (recent example would be Brexit) so if you had a key piece of information on a company that isn't known for a bit, then you profit but others don't. Too bad there are morally corrupt people out there looking to make a quick buck and letting others suffer.

[soyunatetera.livejournal.com]

It's illegal in Korea and in many countries like mine to have privileged information to invest in the stock market. Like an ex president in my country used privilege info when he was a deputy about how two airlines where going to join so he invested before it happened and the stocks where cheaper. It's illegal because the stock market is a place where everyone should have the same conditions without external influences as far as I know

[cuizy.livejournal.com]

So he bought it himself? That's kinda dumb

I wonder if he had a friend do it whether it would be harder to get caught

[angela-derp-otp.livejournal.com]

2016 has no chill.

Son that is some white collar criminal offense, it is not to take it lightly.

This company is so messy.

[kary1591.livejournal.com]

Goddammit Yonghwa

[ironicmustache.livejournal.com]

my first bias (from watching heartstrings) ㅠㅠ

[iznanassi.livejournal.com]

I dont know much about YJS so maybe I'm talking out my ass but I really doubt he doesnt know about how shitty FNC is, what does he care if they give him a good deal

Anyways LOL @ Yonghwa, insider trading is really shitty but like at the same time only a n00b (or a scapegoat) gets caught doing it.

[ultraflyy23.livejournal.com]

Doubt it. YJS is very well loved in Korea and he has a very clean image. I doubt he would risk tarnishing that image (by association) just for a good deal. He most likely signed with FNC because a bunch of his comedian friends did as well, though for sure a good deal was also put in place.

[fabulousdoll.livejournal.com]

ia with you. I think YJS gives a lot of importance to his image so I don't see him signing with a company if he thinks it could affect it.

[carra-mia.livejournal.com]

It feels like group of people bought but Yonghwa was only one thrown under the bus by the rest? There's hella possibilities:
maybe he dumb lol, maybe public officials who got on this decided it gonna be nice having some known person caught as "look how great we work", the rest paid themselves out but Yonghwa, bc he celeb, is fucked?

Also does Yonghwa come from money? Bc lately I've seen some comment that he's dad is rich. If yes he's masking himself perfectly by that simple Busan boy image lol

[aidolls.livejournal.com]

Fuuuuuuck

YH is my #1 bias *sigh*

It's so dumb to be caught for insider trading. Don't commit crimes pls, even if "everyone" does it

[ashdevilrun23.livejournal.com]

free jae suk

[pastelpinklace.livejournal.com]

Damn rip ha career

[lightframes.livejournal.com]

Noooooooo

[she-devil666.livejournal.com]

damn son