Munsang Moon, Former CEO of Sillajen, Released on Bail in April... 'Non-Detention Trial' Scheduled

Moon Eun-sang, CEO of SillaJen, who is suspected of insider trading, is entering the courtroom at the Southern District Court in Yangcheon-gu, Seoul, on the morning of the 11th of last month to attend a pre-arrest hearing (warrant review).
[Image source=Yonhap News]

[Asia Economy Reporter Park Jun-yi] It was recently revealed that Moon Eun-sang, former CEO of SillaJen, who was indicted on charges of obtaining illicit gains worth 100 billion won through a 'round-tripping' method using a paper company, has been released on bail.

According to the court on the 1st, the Criminal Division 14 of the Seoul Southern District Court (Chief Judge Kim Dong-hyun) approved Moon's bail request last April. Accordingly, Moon will face the remaining trial while out of custody.

Last year, Moon's side requested the court to allow him to stand trial without detention, citing difficulty in enduring imprisonment due to deteriorating health. From the time he came to the Seoul Southern District Court for the pre-arrest suspect interrogation (warrant review), he complained of health issues, wearing an eye patch over one eye.

Moon and others were indicted on charges of breach of trust and others for obtaining illicit gains of 191.8 billion won through 'round-tripping' by borrowing 35 billion won from DB Financial Investment via a paper company they created, acquiring SillaJen's bonds with warrants (BW), and then lending the money received by SillaJen back to the paper company.

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