Prosecutors raid Samsung Electronics HQ over insider trading allegations

Prosecutors have launched a forceful investigation into Samsung Electronics' headquarters, suspecting insider trading in the process of acquiring robot firm Rainbow Robotics. The Seoul Southern District Prosecutors' Office's Financial and Securities Crimes Joint Investigation Division is examining allegations that company officials improperly profited between 3 to 4 billion won by using non-public information. This information was allegedly used during Samsung's stake acquisition of Rainbow Robotics from 2022 to 2024. The investigation was initiated after the Securities and Futures Commission (SFC) filed complaints and requested probes into Rainbow Robotics CEO Lee and former CFO Bang for alleged violations of the Capital Markets Act. The SFC also accused a Samsung Electronics planning team member, identified as 'A,' and two family members of similar offenses, suspecting they profited around 900 million won by leaking stock acquisition information. This marks an escalation, following an earlier raid on Rainbow Robotics' headquarters in Daejeon in March, which reportedly included the homes of current and former Rainbow Robotics employees and Samsung Electronics' Suwon facilities.