World

Jailed Tycoon Manages to Get $4.5 Billion Richer

LESSON NOT LEARNED

Who says insider trading doesn’t pay?

A chart displaying the South Korean stock exchange.
Reuters/Kim Hong-Ji

Who says crime never pays? South Korean battery tycoon Lee Dong-chae and his family have become $4.5 billion richer this year, even though he was recently locked up on insider trading charges, according to Bloomberg. The outlet added that Lee’s firm, Ecopro, has surged more on the public markets this year than any other company worth at least $10 billion; the stock is up roughly 900 percent. A representative for the company told Bloomberg that, despite the skyrocketing share price, the business is in “desperate need” for their former CEO to return.

Read it at Bloomberg

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