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Prosecutors to resume CNK stock-rigging investigation

The prosecution said Thursday that it would resume its investigation into a stock-rigging scandal involving a diamond mine as soon as a key suspect returns after fleeing overseas for two years.

Seoul Central District Prosecutors’ Office said it will arrest Oh Deok-gyun, head of CNK International, on March 23 when he arrives from Cameroon. The 48-year-old suspect left for the African country in 2012, just before authorities announced their plan to investigate the stock manipulation scandal.

Oh is accused of allegedly leading government officials to release false information about a diamond mine in Cameroon for which CNK International won the mining rights.

He is suspected of raking in 80 billion won ($74 million) from the overpriced stocks of CNK International.

Prosecutors have nullified Oh’s passport, forcing him to return home, and issued an arrest warrant right after he fled. The prosecution also requested that Interpol put Oh on the wanted list and asked the Cameroon government for criminal extradition.

By Lee Hyun-jeong (
Korea Herald Youtube