Korean prosecutors target former NCsoft VP for insider trading

Former NCsoft Vice President and Blade & Soul lead producer Bae Jae Hyu has landed in legal hot water thanks to an ongoing insider trading inquiry.

The investigation began last summer when investors seemingly short-sold almost 200,000 shares in the company, a record that saw NCsoft’s stock values fall significantly. Swirling in the background were rumors that Lineage M would launch sans auction hall, which authorities believed might have provoked the move. Bae Jae-hyun, who sold 8000 shares in the company, immediately fell under suspicion, though NCsoft denied the allegations.

But last week, Korea’s Financial Services Commission formally turned the case over to prosecutors.

Insider trading scandals are nothing new to MMORPG gamers; you’ll recall that former Funcom executives were involved in a similar insider trading case following the original launch of The Secret World. The perpetrators in that case were convicted by the Norwegian courts last year.

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10 Comments on "Korean prosecutors target former NCsoft VP for insider trading"

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yoh_sl

NCSoft VP doing shady shit?
Shock and horror.
(seriously when are people going to realize that NCSoft are scum?)

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mistressbrazen

Tons of legal news in today’s posts. An interesting start to the year.

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Zora

To be fair, a good half followed along from previous year :P

Alright folks, who forgot to ask santa to keep all the bad stuff in 2017 so we could start the new year afresh?

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rafael12104

Hmm. As someone who has done business overseas, there are worse, much worse financial crimes that occur out in the open, so to speak. If this guy is in trouble, it’s because he didn’t do business with the right people. I’ll leave it there. Lol.

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Armsbend

Insider Trading because no AH? LOL?

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Zora

No Diablo 3 style RMAH, no party! /georgeclooney

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Bruno Brito

O H B O I

kofteburger
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kofteburger

Intel should patent insider trading.

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Darthbawl

I can see someone taking the old “Intel Inside” logo and turning it into “Inside Trading Inside.” :P

kofteburger
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kofteburger