South Korean regulators are investigating several executives at Samsung for insider trading, according to a report Friday in the Wall Street Journal.
Regulators detected unusual trading patterns, prompting South Korea’s Financial Services Commission to launch a probe, an unnamed official told the newspaper. According to the report, “Nine Samsung executives from various Samsung affiliates are suspected of having bought Cheil Industries shares worth 40 billion-50 billion Korean won ($35 million-$43 million) during the months of April and May.”
The official declined to give more information on who the executives are, and the company declined to comment when the Journal asked for comment.
The investigation stems from trading activity around the time of a merger between Samsung’s holding company Cheil Industries and Samsung C&T Corp, which caused shares in Cheil Industries to rise in value.
