The Capital Market Special Judicial Police of the Financial Supervisory Service (FSS) has launched a search and seizure operation at Maeil Business TV in connection with allegations of front-running by individuals involved in stock market broadcasting.
It has been confirmed that the FSS Special Judicial Police identified circumstances suggesting that three individuals—including a producer, a host, and a guest of a stock-related program on Maeil Business TV—engaged in so-called "front-running" early this year by purchasing specific stocks before recommending them through their broadcasts.
The special police unit estimates that they gained over 1 billion won in illicit profits through this method.
Following the search and seizure, the special police plan to analyze the confiscated materials and consider summoning the individuals for questioning.
(Photo: Yonhap News)