Mastermind of Youngpoong Paper Stock Manipulation Sentenced to 15 Years in Prison in 1st Trial

The mastermind behind the Youngpoong Paper stock manipulation scheme, considered the largest single-stock stock manipulation case in history, has been sentenced in the first trial to 15 years in prison and a fine of 397.3 billion KRW.

The court explained the reasoning for the sentence, stating, "The degree of market distortion was severe, with the stock price soaring about 14-fold over the span of a year, and subsequent sharp drops in stock prices resulted in massive losses for investors," adding that "Lee played a core role in planning and leading the overall price manipulation."
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