Samsung Securities CEO quits after $105 billion stock blunder
Samsung Securities CEO Koo Sung-hoon resigned after an employee's error sparked a $105 billion 'non-existent stock' blunder, the company said on Friday. The employee mistakenly issued 2.8 billion shares to 2,000 employees in April instead of issuing them with dividends worth 2.8 billion Korean won. Some of these shares were quickly sold by the employees, who were fined $27,000 each.