Financial services commission reports Tong Yang Group chief for unfair trading
Seoul - Yonhap
The financial regulator Wednesday reported the head of South Korea's major conglomerate Tong Yang Group to the prosecution on charges of unfair trading that led to huge losses for retail investors following the firm's liquidity crunch last year. The Financial Services Commission (FSC) brought the charges against Hyun Jae-hyun, the chairman of Tong Yang Group, whom it has accused of selling debts in a bid to secure funds even though he knew the company was collapsing as it was unable to make any repayments for maturing debts.
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