"Given Corporate Account at Kim Bong-hyun's Request"…Prosecutors Judge as 'Embezzlement Channel'

[Image source=Yonhap News]

[Asia Economy Reporter Lee Jung-yoon] Testimony has emerged that former Star Mobility chairman Kim Bong-hyun, a key figure in the 'Lime Asset Management (Lime) scandal' currently on trial, used a corporate account under an acquaintance's name as a 'withdrawal channel' for corporate funds from Suwon Passenger Transport and others that he managed.

On the 28th, at the trial of former chairman Kim held at the Seoul Southern District Court Criminal Division 13 (Presiding Judge Lee Sang-joo), A, a junior from Kim's hometown who appeared as a witness, testified, "In 2018, at Kim Bong-hyun's request, I created a corporate account under my name and handed it over."

A stated, "Afterwards, Kim Bong-hyun's side managed the account with the company seal, account password, and OTP," and added, "The corporation's name and location were also changed without my consent."

A also testified, "There were several occasions when tens of billions of won were deposited and withdrawn through the corporate account," and said, "Since it was an account managed by Kim Bong-hyun, I do not know the purpose of the incoming or outgoing funds."

Investigations revealed that former chairman Kim transferred tens of billions of won of Suwon Passenger Transport funds to A's corporate account and then withdrew them. It was also confirmed that money from a paper company he actually owned was sent to and withdrawn from an account under A's name. Accordingly, the prosecution judged that former chairman Kim managed corporate accounts under borrowed names to deceive the flow of money while using them as a channel to embezzle company funds.

The defense argued that the funds withdrawn through the corporation under A's name might have been stolen by someone else and claimed that former chairman Kim did not personally embezzle the money.

Former chairman Kim is currently on trial after being detained and indicted on charges of embezzling hundreds of billions of won from Suwon Passenger Transport and Star Mobility, and providing money and entertainment to politicians and prosecutors.

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