The former head honcho of Blade & Soul, Bae Jae Hyun, is currently under investigation by the Financial Services Commission, South Korea’s top financial regulator, under suspicion of insider trading. This illegal action reportedly took place last year, when Bae Jae Hyun was holding the position of Vice President in NCsoft. He sold 8,000 of his NCsoft shares worth around USD 3 million before the company’s stock plunged by 11.41% in late June 2017.
The big drop in stock price was due to NCsoft announcing there will be no cash auction house in its then-launching mobile MMORPG, Lineage M. NCsoft claims Bae sold his stock to “raise money needed to exercise some of his stock options.” A maximum of 10 years of jail time and 5 times the corruption amount as fine awaits Bae Jae Hyun if he is found guilty.
