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CNBLUE's Yonghwa investigated for insider trading at FNC Entertainment

By elliefilet   Tuesday, June 28, 2016   217,037   14,057   0



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CNBLUE's Yonghwa is reported to have been called in for questioning about FNC Entertainment's recent stock market manipulation scandal.

SEE ALSO: [OP-ED] Is EXP Edition Really K-Pop? The Answer Isn't So Simple

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.

  2. Yonghwa
  3. fnc entertainment

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!

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.

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 :(

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.

Xvipxni chuqhalauj Wednesday, June 29, 2016

It's illegal to make profit out of stocks based on personal information that isn't available for the public because it's unfair to those who have no idea. He knew that YJS will be joining and bought beforehand the stocks so he could profit. He could face up to 10 years in jail or will have to pay double theearnings

MollyMia Xvipxni Wednesday, June 29, 2016

oh, i never knew that (buying and selling of stocks based on insider's info) is illegal....

chuqhalauj Xvipxni Wednesday, June 29, 2016

Thank you! I never knew that such a thing was illegal...but I bet that kind of stuff happens everyday, some people are just more lucky and get away with it.

MollyMia chuqhalauj Wednesday, June 29, 2016

i guess so. i do believe it's a prevailing crime that with most people not getting caught for.

Xvipxni chuqhalauj Thursday, June 30, 2016

I think that he just did like too much ? To the point that it was clear. Many others who would stuff like this wouldn't buy that large amount through one person they would devided between multiple ghost buyers so it would seem as if nothing had really changed but when a single person invests that much it's kinda suspicious.

Potaetae Wednesday, June 29, 2016

This sounds like some kdrama shit, where the leader wants to take revenge on the label 😂😂

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.

Jarhon (Banned) bollwoodvskpop Wednesday, June 29, 2016

This comment has been removed due to violation of our TOS. (Reason: spammer)

Jarhon (Banned) bollwoodvskpop Wednesday, June 29, 2016

This comment has been removed due to violation of our TOS. (Reason: spammer)

bollwoodvskpop  Jarhon (Banned) Wednesday, June 29, 2016

Really, it seems like his fans are defendiing him then again Kpop fans dont understand logic and use only emotions.

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!

Jarhon (Banned) way0leto Wednesday, June 29, 2016

This comment has been removed due to violation of our TOS. (Reason: spammer)

guesswhat99 way0leto Wednesday, June 29, 2016

but it is unfair to the people who sold the stocks to him who ended up losing profit because they didn't know that Yoo Jae Suk would soon enter the company. Bear in mind that stockholders can be anyone - not just insanely wealthy people. The people who lost profit could've been someone with normal or struggling wages. It's just a disadvantage and unfair. If he is found guilty, the injustice will prevail.

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....

yjb11495 (Banned) Wednesday, June 29, 2016

This comment has been removed due to violation of our TOS. (Reason: spammer)

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.

guesswhat99 wewewewewewewew Wednesday, June 29, 2016

His image is ruined even if he pays the fine lol.

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