[Alpha Biz=(Chicago) Reporter Paul Lee] The Financial Supervisory Service has seized and searched the headquarters of Kiwoom Securities, which was then the lead organizer of the listing, after detecting allegations of Tilon's unfair trade, which it sought to list on the KOSDAQ last year.

According to the financial investment industry on the 13th, the Financial Supervisory Service's special judicial police raided the headquarters of Kiwoom Securities in Yeouido, Seoul, on the 7th to secure data on Tilon's initial public offering (IPO) listing. On the same day, Kiwoom Securities employees were summoned as witnesses to investigate.

KONEX-listed company Tilon challenged to list before the KOSDAQ last year, but decided to withdraw its listing as it was embroiled in controversy over three requests to correct securities reports from the Financial Supervisory Service. At the time, the Financial Supervisory Service demanded that the Supreme Court clearly state the company's possible financial impact on the Supreme Court's decision to reverse the original verdict for the lawsuit between Tilon and New Optics. This is because the liability for litigation-related provisions could grow.

It was also required to clearly state matters related to loan transactions between the company and its CEO.

The Financial Supervisory Service is conducting a joint investigation with the Seoul Southern District Prosecutors' Office.

"We cannot confirm in detail what is under investigation," a Financial Supervisory Service official said.

 

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