SEOUL, South Korea – A senior South Korean prosecutor has been indicted for allegedly pocketing millions of dollars from shady stock transaction deals with an online game maker.
Prosecutor Lee Keum-ro announced Friday that fellow prosecutor Jin Kyung-joon faces charges including bribery and violating the law on financial transactions. Jin, who holds a rank of vice minister, became the most senior prosecutor to be arrested last week.
He allegedly took money from the founder of Nexon and bought unlisted company shares before selling them back to the company at a much higher price. Prosecutors say he used the profits to purchase shares of Nexon Japan and sold them again for 12.6 billion won ($11 million) last year.
Prosecutors said they also indicted Nexon founder Kim Jun-ju.