SEE ALSO: CNBLUE let fans listen to a snippet of their 6th Japanese album 'Stay Gold'
On June 28, the financial sector of Seoul's District Public Prosecutor's Office summoned Yonghwa for questioning concerning accusations of insider trading and an alleged profit of 200 million Won (~$175,000 USD) last July. The prosecutor's office revealed Yonghwa was being investigated for allegedly buying 21,000 shares of FNC Entertainment's stock through insider trading.
The CNBLUE leader is being accused of buying 400 million Won (~$342,564 USD) worth of stock and selling it for 600 million Won (~$513,846 USD) a week later. On July 16 of 2015, FNC Entertainment's stock rose from 20,800 Won (~$17.80 USD) a share to 27,000 Won (~$23.12 USD) a share following the signing of a popular celebrity, who's speculated to be Yoo Jae Suk.
It's being investigated when Yonghwa discovered the celebrity would be signing with the agency, and details of the stock deal are being thoroughly probed.
Stay tuned for updates.
ajshawol1990 • Sunday, July 3, 2016
What is happening to all K celebrities!! Well not all... but.... There are so many scandals this year I can't even!
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noble654321 • Thursday, June 30, 2016
This scandal has nothing to do with cnblue, in reality they care little about money they even used their own money for building two school, it has to do with FNC management and their CEO who took cnblue money with their approval to buy stock and sell it and then pay them, they did not know this was illegal but this had their approval so they got blame.
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injungim • Thursday, June 30, 2016
i feel bad for him. he should have keep his stocks for a little longer and sell it little by little as the time goes by so it didn't seem very suspicious :(
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chuqhalauj • Wednesday, June 29, 2016
Can someone explain to me what the problem is? I never understood what the stock market was all about when I was still in high school *walk away embarrassingly* Is the problem because he knew the stock value would rise which was why he brought it sooner to just sell it for more the next week? I don't see anything wrong with this... lol.
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Potaetae • Wednesday, June 29, 2016
This sounds like some kdrama shit, where the leader wants to take revenge on the label 😂😂
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bollwoodvskpop • Wednesday, June 29, 2016
I cant form an opinion just yet however if he is innocent then someone must be held to account as it can damage is reputation but if he is guilty then if you do the crime then you do the time.
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way0leto • Wednesday, June 29, 2016
well, if I got tip about my company stock, i'll also buy it. and sell when the price rose.. isn't it normal...? :p anyway, be strong my 22june twins!! hope for the justice!
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Crazy_Dog • Wednesday, June 29, 2016
hmmm if this is a cover up for the other big things going on in korea it should be hushed down in maybe a month or 2however if he did indded do it what an absolute douchebag, his ceo trusted him by telling him this info and he decided to use it to gain a quick buck what a dick....
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yjb11495 (Banned)• Wednesday, June 29, 2016Send
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wewewewewewewew • Wednesday, June 29, 2016
Normally, if i'm not mistaken, when a person has no prior stock buying records and then suddenly (out of the blue) he invests a large amount of money at that crucial moment which coincides with Yoo Jae Suk's signing into FNC, only to sell it once the stock value rose then there is a huge possibility of insider trading (i.e he got a tip beforehand). I'm a huge fan of yong hwa, don't get me wrong, but from my perspective, things aren't looking good for him. Hopefully, he can at most pay the fine instead rather than go to jail, which is around 8-10 years of jail time.
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