Arrest warrant for all executives and employees of LS Securities who stole 83 billion won from PF loans

Prosecutors investigating allegations of "private use of information on duty" by employees of financial companies have launched a search for former LS Securities executives and employees.

The Seoul Central District Prosecutors' Office yesterday (21st) requested arrest warrants for three people, including Mr. A, former head of LS Securities Co., on charges of violating the Capital Markets Act and breach of trust under the Specific Economic Crimes Aggravated Punishment Act.

They are accused of using undisclosed information they learned in the course of performing their duties to directly implement the real estate project financing project and pocketing 83 billion won in loans to the outside of the developer.

The prosecution launched an investigation in January at the request of the Financial Supervisory Service, and last month raided more than 10 locations, including LS Securities and Hyundai Engineering & Construction headquarters.

The Financial Supervisory Service said it found circumstantial evidence that A received 50 billion won from the developer in the name of selling convertible bonds after arranging PF loans and privately lent high-interest money to various developer companies.