Daily Union (Monthly, Korea News Newspaper) Ju-un Journalist | Ilyang Pharmaceutical was raided on the 5th on charges of violating the Capital Markets Act.

This is because suspicions arose that Ilyang Pharmaceutical manipulated Zucca by deceiving that its COVID-19 treatment was effective.

According to the Seoul Metropolitan Police Agency's Financial Crime Investigation Unit, Ilyang Pharmaceutical announced in March 2020 that its leukemia treatment, "Spect," is effective in treating COVID-19.

Ilyang Pharmaceutical found that the COVID-19 virus decreased by 70% compared to the control group within 48 hours after "Spect" was administered to COVID-19 patients.

As soon as the company announced in March 2020 that its COVID-19 treatment "Spect" was effective, the weekly price, which was around 20,000 won, soared to 106,500 won.

The Financial Crime Investigation Unit reportedly investigated some executives, including major shareholders of Ilyang Pharmaceutical, because they believed they enjoyed market profits by selling their holdings in time for the soaring price of Ilyang Pharmaceutical.