'Husband of Influencer Accused of Stock Price Manipulation Released on Bail After 5 Months'

Former Securities Firm Employee and Entrepreneur Also Released on Bail

The husband of a TV personality, who had been put on trial on charges of manipulating the stock price of a KOSDAQ-listed company, has been released on bail by a court decision. A former securities firm employee and an entrepreneur, who were also indicted together, had previously been released on bail, so all three will now stand trial without being detained.

Seoul Southern District Court. Photo by Jiye Lee

On October 1, Criminal Division 14 (Presiding Judge Lee Jeonghee) of the Seoul Southern District Court held a bail hearing for Mr. Lee, who had been indicted and detained on charges including violations of the Capital Markets Act, and granted the bail application, stating, "There is sufficient reason to approve bail." Mr. Jeon, a former employee of Daishin Securities who was indicted alongside Lee, as well as entrepreneur Mr. Kim, were both released on bail in August.

Mr. Lee, who had been detained since April 22, has been able to stand trial without detention for the first time in about five months. At the bail hearing held in August, Mr. Lee appealed, saying, "Currently, my wife, who is a TV personality, is being criticized by public opinion," and added, "If you allow me to stand trial without detention, I will diligently attend all hearings."

From December 2024 to April last year, Mr. Lee and the others were put on trial for allegedly manipulating the stock price by buying and selling more than 28.9 billion won worth of stocks of a KOSDAQ-listed company. Prosecutors believe that Mr. Jeon, who had worked for Daishin Securities for over 20 years, played the key operator role by using borrowed-name accounts for trading, while Mr. Kim acted as the mastermind who orchestrated the scheme. The amount of illegal gains the prosecution has identified is over 1.4 billion won.

Mr. Lee is also facing charges of providing money and entertainment to a police officer in order to cover up an ongoing fraud investigation related to his wife, the TV personality.

The next trial date for Mr. Lee and the others is scheduled for October 19.

This content was produced with the assistance of AI translation services.