Kim Keon-hee (pictured), the wife of People Power Party’s presidential candidate Yoon Seok-youl currently being investigated for her alleged involvement in manipulating the price of Deutsch Motors shares, also put additional securities accounts in the hands of a “player” who manipulated share prices, in addition to the “player” Yi already identified.

According to the list of crimes attached to the written arraignment of former Deutsch Motors chairman Kwon Oh-soo, which the Kyunghyang Shinmun obtained on February 22, there were five accounts in Kim’s name, covered under the name “Do----.” Originally, it was revealed that only one account in Kim’s name was used in the stock price manipulation, but it turned out that there were four more accounts. Two of the newly discovered accounts were used by Yi, the CEO of an investment consultancy, to manipulate the price of shares. Kim used the other two accounts to personally purchase shares according to Kwon’s recommendation. Contrary to Kim’s explanation, that she simply lent one account, a total of five accounts were used to manipulate the share prices of Deutsch Motors. Yi, the first known “player” to have manipulated stock prices, purchased a massive 670,000 shares (worth nearly 1.7 billion won) of Deutsch Motors using Kim’s account in January 2010. The other Yi, the head of the investment consultant firm, bought nearly 490,000 shares (worth approx. 1.8 billion won) using two of Kim’s accounts from October 2010 to January 2011.

It was also confirmed that Kim used two of her accounts and personally purchased 85,000 shares (worth nearly 400 million won) from July 2010 until January 2011. The prosecutors believe this purchase to be based on an “irregular recommendation to buy shares.” In other words, Kwon, the former chairman of Deutsch Motors bought the company shares at a higher price using an account he personally managed and Kim purchased the shares after Kwon leaked insider information.

Based on the list of crimes, among the transactions allegedly involved in the manipulation, almost 1,253,800 shares (worth approx. 4 billion won) were traded using Kim’s accounts. From January 2010 until March 2011, market prices were manipulated on 284 occasions through matching orders (106 cases), exaggerated bids (113), selling out shares (45), false bids (16), and closing price manipulation (4).