Tech firm Kakao’s founder arrested over alleged stock manipulation ...Middle East

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Tech firm Kakao’s founder arrested over alleged stock manipulation
Seoul: The founder of South Korean tech giant Kakao, Kim Beom-su, has been arrested on charges of stock price manipulation related to the firm’s takeover of K-pop powerhouse SM Entertainment last year, prosecutors said. The Seoul Southern District Court issued an arrest warrant for Kim after holding a hearing, which came weeks after prosecutors questioned the tycoon about his alleged involvement in the manipulation of SM shares. The court cited risks of him fleeing and destroying evidence, reports Yonhap news agency. The case centres on suspicions that the mobile platform-to-entertainment conglomerate and its executives manipulated SM stock prices during a bidding war it won in February las

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