13 Indicted in Stock Manipulation Case Involving Lee Seung Gi’s Father-in-Law
On May 15, the Joint Securities Crime Investigation Unit at the Seoul Southern District Prosecutors’ Office, led by Chief Prosecutor Ahn Chang Joo, announced the indictment of 13 individuals for stock manipulation. Among those charged is Mr. Lee, the father-in-law of renowned singer and actor Lee Seung Gi. Eight of the accused, including Mr. Lee, are currently in custody.
Mr. Lee, married to actress Kyeon Mi Ri and father of actress Lee Da In, is alleged to have led a scheme that accrued approximately 14 billion KRW (about $10.37 million) in illicit profits. He is also facing charges under the Attorney-at-Law Act. Prosecutors claim that Mr. Lee received a 30 million KRW (around $21,494) retainer and was promised a 1 billion KRW (about $716,517) success fee from a former prosecutor known only as ‘A’ for his role in pausing trading for the company Quantapia in February of last year.
In light of these developments, Lee Seung Gi released a statement on April 29, expressing deep disappointment and indicating that he and his wife have chosen to sever ties with her family. He lamented the longstanding allegations against his father-in-law and expressed heartbreak over the recent indictment following earlier misconduct.
Lee stated, "I had hoped for a different outcome," revealing his trust had been misplaced, and he felt devastated by the repeated wrongdoings. He acknowledged making rash comments about the situation previously and expressed regret for any harm those remarks may have caused to the victims involved.
He concluded by affirming that the breach of trust within his family was irreparable and promised a commitment to stronger values moving forward.
Lee Seung Gi and Lee Da In were married in 2023.
