February 21, 2012
SEOUL (AFP) - Three South Koreans have been arrested for rigging share prices by spreading false rumours about a nuclear accident in North Korea, police said Tuesday.
The three, including a 19-year-old college student, were accused of spreading groundless claims on January 6 that a reactor in the North had exploded, leaking dangerous levels of radioactivity.
They allegedly sent such rumours to market analysts and brokers through online messaging services, sending share prices falling more than two percent at one point.
The rumours also affected South Korea's won, which fell 0.88 percent against the greenback. Financial regulators asked police to investigate the case.
The Cyber Terror Response Centre said the three had raked in 29 million won ($25,777) in profit by rigging shares through the nuclear rumour.
They also pocketed 32 million won in profit by spreading rumours about the development of a new vaccine in early February, it said.
