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[Alpha Biz=(Chicago) Reporter Kim Jisun] In the trial of Lee Woong-yeol, honorary chairman of Kolon Group, the main culprit of the Invossa-K (Invossa) scandal, including ingredient manipulation and stock price manipulation, a video witness examination will be conducted on key witnesses.
According to the Seoul District Court on the 20th, the Criminal Affairs Department 24 of the Seoul Central District Court (presiding judge Choi Kyung-seo) will conduct a video witness examination of a key witness to the Kolon Invossa scandal by connecting the court of the Seoul Central District Court with a private broadcasting facility located in Rockville, Maryland, on the 23rd of next month.
Honorary chairman Lee was indicted without detention on charges of making 16 billion won in sales by manufacturing and selling "GP2-293" ingredients that are different from the permission after the approval of the second fluid of Invossa as "cartilage cells" by the Ministry of Food and Drug Safety in 2020.
He is also suspected of receiving $10 million worth of equity investment from state-run banks after calculating the value of unlisted shares while hiding them from receiving a clinical suspension order from the U.S. Food and Drug Administration (FDA).
At that time, prosecutors also charged honorary chairman Lee with price manipulation under the Capital Markets Act, believing that Kolon artificially raised stock prices of its affiliates through false disclosure in the process of attracting 200 billion won.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
