On May 15, the Joint Securities Crime Investigation Unit at the Seoul Southern District Prosecutors’ Office, led by Chief Prosecutor Ahn Chang Joo, announced that 13 individuals had been indicted on charges related to stock manipulation. 

Among those indicted is Mr. Lee, the father-in-law of singer and actor Lee Seung Gi. Eight of the accused, including Mr. Lee, have been taken into custody.

Mr. Lee, who is married to actress Kyeon Mi Ri and is the father of actress Lee Da In, is accused of orchestrating a stock manipulation scheme that generated approximately 14 billion KRW (about $10.37 million) in illicit gains. He also faces an additional charge for violating the Attorney-at-Law Act. 

According to prosecutors, Mr. Lee accepted a 30 million KRW (about $21,494) retainer and was promised a 1 billion KRW (about $716,517) success fee from a former prosecution investigator, known only as 'A,' in connection with the suspension of trading for a company called Quantapia in February of last year.

In response to the indictment, Lee Seung Gi released a public statement on April 29 through his agency. He expressed deep disappointment and announced that he and his wife have decided to cut ties with her family.

Lee stated that there had been ongoing allegations against his father-in-law, and although a fine had been issued in a previous appeal, the recent indictment over similar misconduct was heartbreaking. He shared that he had hoped for a different outcome, having trusted his family, but ultimately felt devastated by the repeated wrongdoing.

He also apologized for making rash comments in the past without fully understanding the situation. Emphasizing that unlawful acts should be met with appropriate consequences, Lee expressed sincere regret to any victims who may have been hurt by his previous remarks. He added that he feels deeply sorry to those who had placed their trust in him.

Lee concluded by saying that the trust within the family had been irreparably damaged. After much thought, he and his wife had decided to end their relationship with her side of the family. He promised to move forward with stronger values and a greater sense of responsibility toward society.

Lee Seung Gi and Lee Da In were married in 2023.

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