Ex-Constitutional Court justice nominee raided over insider trading

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Ex-Constitutional Court justice nominee raided over insider trading

One Law Partners lawyer Lee You-jung, a former Constitutional Court justice candidate nominated by President Moon Jae-in, grimaces while being questioned during a confirmation hearing at the National Assembly on Sept. 28 over an allegation of illicit earning from an insider stock trading. Korea Times file

Prosecutors raided the office and three other locations linked to a former Constitutional Court justice candidate Thursday as part of a probe into allegations that she pocketed hundreds of millions of won in ill-gotten profits via stock trading using confidential information.

Investigators from the Seoul Southern District Prosecutors' Office searched the premises linked to Lee You-jung, a lawyer at One Law Partners, to collect evidence related to the allegations.

Lee, 50, is accused of making a huge return by selling off some 10,000 shares in a local biotech company after it went public.

Naturalendo Tech, the biotech company, was one of her law firm's clients, and prosecutors suspect she knew about their IPO plan before she bought the then unlisted stocks.

She was nominated by President Moon Jae-in as a Constitutional Court justice in August last year and resigned as the candidate after three weeks as the allegations came to light. Lee was intensely scrutinized over the issue at her confirmation hearing at the parliament.

The Financial Services Commission's securities unit subsequently filed for a complaint against the CEO of One Law Partners, seeking an investigation into Lee and three other lawyers over the alleged insider trading.

Prosecutors plan to summon them as soon as they finish analyzing the seized evidence. (Yonhap)


One Law Partners lawyer Lee You-jung, a former Constitutional Court justice candidate nominated by President Moon Jae-in, grimaces while being questioned during a confirmation hearing at the National Assembly on Sept. 28 over an allegation of illicit earning from an insider stock trading. Korea Times file

Prosecutors raided the office and three other locations linked to a former Constitutional Court justice candidate Thursday as part of a probe into allegations that she pocketed hundreds of millions of won in ill-gotten profits via stock trading using confidential information.

Investigators from the Seoul Southern District Prosecutors' Office searched the premises linked to Lee You-jung, a lawyer at One Law Partners, to collect evidence related to the allegations.

Lee, 50, is accused of making a huge return by selling off some 10,000 shares in a local biotech company after it went public.

Naturalendo Tech, the biotech company, was one of her law firm's clients, and prosecutors suspect she knew about their IPO plan before she bought the then unlisted stocks.

She was nominated by President Moon Jae-in as a Constitutional Court justice in August last year and resigned as the candidate after three weeks as the allegations came to light. Lee was intensely scrutinized over the issue at her confirmation hearing at the parliament.

The Financial Services Commission's securities unit subsequently filed for a complaint against the CEO of One Law Partners, seeking an investigation into Lee and three other lawyers over the alleged insider trading.

Prosecutors plan to summon them as soon as they finish analyzing the seized evidence. (Yonhap)



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