FNC Entertainment has denied allegations that the agency has benefited from stock market manipulation or insider trading.
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.
SEE ALSO: Han Seo Hee snaps back at netizens who're falsely saying she's a Maroo Entertainment trainee
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.
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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jypnloves • Thursday, June 23, 2016
i was trying to find the drummer girl of AOA black in the fnc kingdom family picture...but can't found it...is she out of the group??is she not a part of AOA anymore??
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primazaza • Thursday, June 23, 2016
I just want FTISLAND comeback...
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pkmy1996 • Thursday, June 23, 2016
How about you fnc start leaning how to manage your own artists well and not to effed them up over and over?
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neoncolors_0 • Thursday, June 23, 2016
Where are the policies at fnc that limit individuals within an agency who HAVE THE INFORMATION to manipulate stock markets? Okay, yes fnc did not allegedly manipulate the stock market, but how poor is your upper management, logistics, whatever tier to allow this confidential information (who the label's gonna sign with) to get into the hands of an employee, and MOREOEVER allow this emloyee to engage in that kind of behaviour? And now all you say is: "Well, it's not actually, us, fnc, the company that's responsible." Like wtf you pussy-ass pricks.
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smokeee • Thursday, June 23, 2016
these guys are being punished for having a brain. i wish akp netizen were punished for not having brains.
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jeyjin • Thursday, June 23, 2016
Yuna looks amazing in business attire.
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Bella_Strand • Thursday, June 23, 2016
LOL... this is the most amateur insider trading manipulation ever... you NEVER bought the shares/stocks yourself if you are an insider. Always use a proxy, you idiot!
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