Warburg Pincus is the latest private equity firm caught in the limelight in South Korea over allegedly unsound practices. According to media reports, the head of Warburg Pincus in Korea, Hwang Sung-Jin, has been indicted by Seoul prosecutors over alleged insider trading in shares of credit card company LG Card in October 2003, shortly before the company experienced financial difficulty when consumer spending slowed.
Korean prosecutors indict Warburg Pincus exec
Prosecutors in Seoul have indicted the head of Warburg Pincus in Korea on charges of insider trading in LG Card, an investment from which the private equity firm exited in 2003.
