The father-in-law of singer and actor Lee Seung Gi, who is on trial for a multi-million dollar stock manipulation scheme, has been released on bail. The Seoul Southern District Court approved his bail request on September 22nd.
According to legal sources, his release was granted under several conditions, including the payment of a 100 million won ($74,000) deposit and restrictions on his residence.
The father-in-law and 12 other individuals were indicted on charges of violating the Capital Markets Act. They are accused of illegally obtaining 14 billion won ($10.3 million) by misleading investors. The group allegedly inflated the stock prices of three publicly traded companies by falsely claiming they were launching new, high-tech business ventures.
This latest development brings renewed attention to the actor’s strained relationship with his wife’s family. Lee Seung Gi has previously and publicly declared that he was cutting ties with his in-laws, stating that his trust in the family had been “damaged beyond repair” due to his father-in-law’s repeated illegal activities.
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