Samsung Electronics’ headquarters is under investigation radar regarding allegations of insider trading during Samsung Electronics’ acquisition of shares in Rainbow Robotics.
The prosecution has launched a compulsory investigation, including the raid.
As per the reports, the Financial and Securities Crime Joint Investigation Division of the Seoul Southern District Prosecutors’ Office (headed by Senior Prosecutor Shin Donghwan) conducted a search and seizure of Samsung Electronics’ headquarters in Suwon, Gyeonggi Province the previous day.
After the Securities and Futures Commission of the Financial Services Commission detected signs of insider trading by Rainbow Robotics officials, the investigation against Samsung gained momentum.
Further, the Securities and Futures Commission suspects that the current CEO and former Chief Financial Officer (CFO) of Rainbow Robotics used non-public information related to Samsung Electronics’ investment plans to gain unfair profits.
As per the reports, the Securities and Futures Commission confirmed that an employee, referred to as “A,” from Samsung Electronics’ planning team was in a position to access information regarding the acquisition of Rainbow Robotics shares in advance, and that this employee either directly purchased shares using this information or passed the information to family members, enabling them to profit.
Samsung Office Raided Over Alleged Insider Trading
