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FNC Entertainment denies allegations of stock market manipulation

By elliefilet   Thursday, June 23, 2016   30,170   2,382   65
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FNC Entertainment has denied allegations that the agency has benefited from stock market manipulation or insider trading.

SEE ALSO: New girl group, HEYMISS, release their debut MV, 'Number 1'!



On June 23, a rep from the level stated, "The stock market manipulation allegations are false. We'll aggressively cooperate with the prosecutor's investigation. The deals in stocks made last July have been deemed as a normal exchange. The issue is unrelated to stock manipulation." The rep added, "The situation is not due to the agency, but rather from a person related to the label who made a personal stock deal."

It's reported that a financial investigation team has searched the homes of celebrity A, housed under FNC Entertainment, and his friend, the agency building, and other locations. Allegedly, A engaged in insider trading as he knew when the label would sign other celebrities and bought stocks to make a profit before the news went public.

Reports say A and his friend allegedly earned 200 million Won (~$175,000 USD) through insider trading last July when they learned Yoo Jae Suk would be recruited by FNC and bought stocks accordingly.

Stay tuned for updates.

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    Tags:

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    2. fnc entertainment


    lovelynnnnnn Tuesday, June 28, 2016

    And here I thought FNC was doing alright for a small company. I mean they're getting bigger and has a great line up of idols and MC's. And then this shit happens. Well damn, FNC needs to get their shit together lol. They'll lose artists by the time their contracts end and.

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    nameisinvalid Thursday, June 23, 2016

    Ever since the multiple controversies related to this company, it always makes me wonder if [blank] was an "accident", or something left intentionally.Just work on your public image and give us AOA again already... those two weeks were W A Y  T O O  S H O R T.

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    NalsaYbur Thursday, June 23, 2016

    GET UR DAMN FUCKING SHIT TOGETHER FNC AND QUIT HURTING AOA

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