Bail Rejected for Stock Fraud Suspect

The Seoul Central District Court rejected yesterday bail for Kim Kyung-joon, who is now in custody on the charge of committing stock fraud through investment firms such as Optional Ventures Korea.

The court said it turned down the petition for bail filed last month by Kim’s attorney.

“Kim is suspected of crimes that deserve the death penalty, life imprisonment or a prison sentence longer than ten years,” the court said. “If he is granted bail, he is likely to flee or destroy evidence.”

wing@donga.com