Singer Lim Chang-jung has been revealed to have invested billions of won in a 'stock price manipulation scheme.'

On April 25th, JTBC Newsroom reported on the illegal stock price manipulation operations and disclosed that famous celebrities, including Lim Chang-jung, had invested large sums of money in the scheme.

The Newsroom anchor first stated, "Among the investors who entrusted their money to stock price manipulators, there are famous celebrities. Lim Chang-jung is one of them. He invested billions of won and separately invested in overseas golf courses with them." They added, "Upon meeting Lim Chang-jung, he claimed that he himself was a victim."

According to Newsroom, Lim Chang-jung entrusted his money to the stock price manipulators earlier this year, and instead of selling a portion of his entertainment agency shares for 5 billion won, he reinvested 3 billion won in them. He placed 1.5 billion won in his own securities account and the remaining 1.5 billion won in his wife Seo Ha-yan's account. Lim Chang-jung left their IDs for the manipulators to invest on their behalf.

Lim Chang-jung said, "Of course, I thought, 'It must be the rules that their team follows,' and since I don't know about stocks, I did as they suggested." He claimed that he did not notice anything suspicious when his 3 billion won investment turned into 5.8 billion won in just a month and a half.

The stock manipulation group reportedly purchased a total of 8.4 billion won worth of stocks by adding credit to the initial 3 billion won investment. Lim Chang-jung said, "I bought 3 billion won, but it turned out to be 8.4 billion won. I didn't know," and insisted that he was also a victim.

In particular, Lim Chang-jung expressed his frustration, saying, "That's the account. There's only 189 million won left. Just two days ago, it was worth 2 billion won. Starting tomorrow, it'll probably show a negative 500 million."

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