Police 'Raising Suspicions of Sambo Construction Stock Manipulation is Not Defamation'

[Financial News] The police have concluded that raising suspicions of stock manipulation of Sambo Construction based on messages from Lee Jong-ho, former CEO of Black Pearl Invest, known as a close associate of Kim Geon-hee, does not constitute defamation.
Seoul Mapo Police Station announced on the 24th that they have decided not to forward the case, judging it as 'no charges', regarding the complaint filed by participants of the group chat room 'Stylish Marine' against former Justice Party lawmaker Kim Jong-dae and lawyer Kim Gyu-hyun for defamation by false accusation.
Former lawmaker Kim and lawyer Kim raised suspicions of stock manipulation surrounding Sambo Construction based on the 'Sambo Tomorrow Check' message left by former CEO Lee in the group chat room in May 2023.
The complainants submitted a complaint to the police in July of the same year, claiming that they were mentioned as if they were involved in stock manipulation along with former CEO Lee.
The police found sufficient circumstances to suspect the connection between former CEO Lee and Sambo Construction. In particular, in September 2023, former CEO Lee made a statement during a call with lawyer Kim that the son of former Sambo Construction chairman Cho Seong-ok, who is in custody, should remain in Seoul Detention Center, and the actual change in the detention center transfer plan was cited as the basis.
The police concluded that "the charge of defamation by false accusation does not hold" and decided on 'no charges'.
Meanwhile, former CEO Lee reportedly denied any connection with Sambo Construction during the police investigation, stating that "'Sambo' was an expression meaning night golf rounding (3rd part)".
425_sama@fnnews.com Choi Seung-han Reporter