Wednesday, 29 June 2016

CNBLUE′s Jung Yong Hwa Under Investigation for Alleged Insider Trading


CNBLUE′s Jung Yong Hwa is under investigation for insider trading within FNC Entertainment. 

On June 28, it was revealed that Jung Yong Hwa is under investigation for earning 200 million won through buying FNC Entertainment stock after receiving insider information.Upon learning insider information of a famous star signing onto the same agency as himself, Jung Yong Hwa purchased 400 million won worth of stock with an acquaintance in the beginning of July 2015. He then allegedly sold the stock a week later for 600 million won and made a profit of 200 million won. 

Jung Yong Hwa′s agency announced their contract with a famous celebrity on July 16 and the agency′s stock from from 20,800 won to 27,000 won. 

Prosecutors have stated that Jung Yong Hwa had somehow learned the undisclosed information in advance and is under investigation. They have also stated that they have 1~2 more suspects being investigated.