Financial regulators launched their inquiry into allegations that some affiliates of the embattled Tong Yang Group manipulated stocks before they filed for court receivership . Out of the five Tong Yang units that applied for the court ’ s control last week , three firms ― Tong Yang Inc . , Tong Yang Networks and Tong Yang Cement & Energy ― are listed on the Korea Exchange . The main exchange issued a trading ban on equities of the three firms after they filed for the court ’ s control . Another listed unit , Tong Yang Securities , was not included in the receivership list . While Tong Yang Life Insurance is also still being traded on the main bourse as a group affiliate under the antitrust law , its largest shareholder has been changed into Vogo Fund from Tong Yang Group . The Financial Supervisory Service is focusing on the two major scenarios , casting doubt over the dubious fluctuation of the firms ’ stock prices over the past few weeks . “ One might be fraudulent trading of affiliate shares by some Tong Yang owners misusing insider information before the conglomerate applied for court receivership of five nonfinancial units early last week , ” said an official . He said the other is speculative investment by some scammers exploiting the conglomerate ’ s liquidity crisis . Meanwhile , regulatory officials have revealed that Tong Yang Financial Services , one of the group ’ s two loan shark units , issued irregular loans worth about 1 . 5 trillion won ( $ 1 . 36 billion ) to its debt - saddled affiliates over the past two years . The FSS does not rule out the possibility that some financial units of the conglomerate were misused as an illegitimate funding source to nonfinancial affiliates . Among them are loan shark unit TY Money Financial Services , Tong Yang Investment , Tong Yang Asset Management and Tong Yang Securities . Tong Yang Group chairman Hyun Jae - hyun holds an 80 percent stake in TY Money Financial Services . The FSS had widened its probe to look into whether the financial units engaged in behind - the - scenes intra - group trading . Officials hinted that a key investigation target would be whether the six Tong Yang financial firms breached the supervisory rules banning manufacturing conglomerates from abusing their financial subsidiaries as a cash cow . There is a high possibility that the antitrust regulator Fair Trade Commission or the prosecution will join the probe in a bid to check the appropriateness of the shareholding structure between Tong Yang ’ s financial and nonfinancial businesses , according to market insiders . More and more market observers predict that some of the financial units could eventually be put up for auction . They say that their asset soundness might have worsened like their manufacturing affiliates . The simultaneous application for court receivership comes amid chairman Hyun ’ s alleged effort to block default from maturing bills worth some 1 trillion won . By Kim Yon - se ( kys @ heraldcorp . com ) [ Hot News ] ◆ 朴 대통령 아세안 정상회의 서 도 ' 세일즈 외교 ' 주력 ◆ 미국 새 연준 의장 에 재닛 옐런 현 부의장 ◆ 세계 최초 휘 는 화면 스마트폰 ' 갤럭시 라운드 ' 출시 ◆ " 삼성 , 실리콘밸리 서 인수 대상 업체 물색 " ◆ 따뜻 한 의학 드라마 ' 굿 닥터 ' 시청 률 . .. 더 많 은 기사 보 러 가 기 → [ 코리아 헤럴드 홈페이지 ] [ 트위터 ] [ 페이스북 ] 구독 신청 1588 - 0533