Police File First Arrest Warrant Related to 'Speculation Allegations'... Pocheon City Official (Update)

On the 15th, police are moving seized items into a vehicle after completing a search and seizure at Pocheon City Hall in Gyeonggi-do. [Image source=Yonhap News]

[Asia Economy Reporter Lee Gwan-ju] The police have requested an arrest warrant for a public official at Pocheon City Hall in Gyeonggi Province suspected of speculating by purchasing land and buildings near a planned subway station site. This is the first arrest warrant request among the suspects investigated for real estate speculation triggered by the Korea Land and Housing Corporation (LH) scandal.

The Special Investigation Unit for Real Estate Speculation Crimes of the Northern Gyeonggi Provincial Police Agency announced on the 24th that it has applied for a pre-arrest warrant against a senior official A of Pocheon City Hall on charges of violating the Act on the Prevention of Corruption and the Establishment and Operation of the Anti-Corruption and Civil Rights Commission (using official secrets for personal gain).

The police also applied for seizure preservation of the land and buildings purchased by A.

In September last year, A purchased about 2,600㎡ of land near the planned site of the urban railway extension station jointly with his wife, and controversy grew as it was revealed that A had worked in the relevant department in 2019.

A is reported to deny the charges of using insider information, claiming that it was common knowledge that a railway station would be built in the area.

A police official said, "We plan to investigate real estate speculation criminals swiftly and strictly according to the law and principles."

This content was produced with the assistance of AI translation services.