Wednesday, December 12, 2007

[The Chosun Ilbo, December 6 2007] BBK Scam Inspired By Movie 'Boiler Room'

Prosecutors say the chief suspect in the so-called BBK scandal that centers on several dubious investment firms copied his operation straight from the Hollywood movie “Boiler Room”, about a fraudulent financial firm. Chief Prosecutor Kim Hong-il of the Seoul Central District Prosecutors Office, announcing the indictment of Kim Kyung-joon for embezzlement and stock manipulation on Wednesday, said investigators “confiscated a DVD of the movie ‘Boiler Room’ from the former president’s desk in the Optional Ventures office. The movie’s story is nearly identical to the scam.” Kim set up Optional Ventures when BBK folded due to forged investment reports. An official with the special investigative unit said, “Although Kim denies any relation between the scandal and the movie, the movie will help you better understand the scandal.”

No comments: