The SEC’s complaint charges Jung with fraud and seeks disgorgement of allegedly ill-gotten gains, pre-judgment interest, penalties, and injunctive relief. The complaint also names Jung’s friend, Sungrok Hwang, as a relief defendant. Accordingly, Hwang must disgorge illicit gains that Jung generated trading in his overseas brokerage account. To complicate matters, the U.S. Attorney’s Office for the Southern District of New York also files criminal charges against Jung.
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