Kyeon Mi-ri’s husband gets 4 years

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Kyeon Mi-ri’s husband gets 4 years

Actor Kyeon Mi-ri’s husband, identified by his surname Lee, has been sentenced to four years in prison for making profits through stock manipulation.

The Seoul Southern District Court handed down a four-year sentence and a fine of 2.5 billion won ($2.2 million) to Lee, a former Bota Bio executive, for violating laws related to capital markets and financial investment. Lee gained around 2.3 billion won through stock manipulation from November 2014 to February 2016.

To attract investment, Lee released false information about the financial soundness of his company. He led investors to believe that the firm was improving in financial soundness, backed by an influx of capital from China and his wife’s participation in the recapitalization.

When the news on Kyeon’s participation in the recapitalization was announced, the company’s stock jumped from 2,000 won in Nov. 2014 to 15,100 won per share in five months.

Lee’s conspirator, a fellow Bota Bio executive, received a three-year prison sentence and a fine of 1.2 billion won.

By Yeo Ye-rim
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