CNBLUE’s Jung Yonghwa Acquitted Of Insider Trading Charges, Fellow Member Jonghyun Charged

Just a few days ago, CNBLUE’s Jung Yonghwa was investigated under the suspicion of insider trading. It was reported that he had bought FNC Entertainment’s stocks after receiving news that Yoo Jaesuk would be joining the company.

However, the police has cleared him of suspicions and instead fined fellow member Jonghyun.

The police found out that Yonghwa’s stocks were purchased FNC Entertainment’s stocks on July 9 – prior to news of Yoo Jaesuk joining the company circulating – and that his mother had purchased them without his knowledge. The singer only sold the stocks when news about the A-lister joining the company broke.

More from CLEO:
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Jonghyun, on the other hand, heard from an acquaintance in the agency that a popular star would be joining FNC Entertainment and immediately bought stocks without checking if it had been reported. However, after realising that his actions could surmount to insider trading, he held on to the stocks. He was charged with a summary offence and fined 20 million won ($23,000).

Image: TPG/Click Photos


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