Ex-chairwoman of Hanjin Under Scrutiny

Maritime Activity Reports, Inc.

September 23, 2016

Photo: Hanjin Shipping

Photo: Hanjin Shipping

The former chairwoman of bankrupt Hanjin Shipping Choi Eun Young  is under investigation for alleged insider trading BBC reports qoting South Korea's Financial Supervisory Service. 

 
She has come under scrutiny after it was revealed she sold all her shares in the firm days before it filed for a debt restructuring programme in April.
 
Ms Choi and her two daughters sold shares worth 3bn won ($2.7m, £2.1m) in April. She left the company in 2014. 
 
The sell-off saved Ms Choi and family around S$1.35 million as Hanjin continued to sink amidst the global downturn in trade, the WSJ, quoted authorities as saying.
 
The sale prompted regulators to launch an investigation and hand the case over to a prosecutors' office.
 
The investigators are probing whether Ms Choi had inside knowledge when she and her daughters - Cho Yoo Kyung, 30, and Cho Yoo Hong, 28 - liquidated their shares.
 
“As Ms. Choi and her family are suspected of having sold their Hanjin stocks by using undisclosed information to avoid losses, it’s natural for the authorities to look into whether their selling violated laws,” said a director at the Financial Services Commission.
 
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