Off The Wire
South Korean prosecutors raid exchange in Samsung BioLogics probe: bourse official
SEOUL (Reuters) - South Korean prosecutors raided Korea Exchange as part of an investigation into Samsung BioLogics’ suspected violation of accounting rules, a bourse official said on Friday.
In November, the country’s financial watchdog said the biotech arm of Samsung Group intentionally breached accounting rules ahead of its 2016 listing and reported the case to prosecutors.
Prosecutors raided the head office of Samsung BioLogics in December as part of their criminal probe into alleged accounting fraud.
The Korea Exchange official said the latest raid took place on Thursday but had no further comments.
Reporting by Yuna Park and Joori Roh; Editing by Stephen Coates