South Korea court backs Internet blogger's arrest

A POPULAR INTERNET financial blogger, accused of spreading false information online, is being held in custody after a South Korean court backed his arrest.

Seoul Central District Court ruled that the the 31-year-old man, who is known as Minerva online, should remain in custody. The man identified only as Park was arrested last week on charges of spreading groundless news that the country's currency, the Won, was in deep doo doo.

Park, who predicted the collapse of US investment bank Lehman Brothers, has lot of followers but he miffed the authorities when he applied his skills to the Won's sharp depreciation and the local stock market crash. µ

L'Inq
AP