'Prosecutor and Journalist Bribery' Fishery Businessman Kim to Face Trial Tomorrow

[Image source=Yonhap News]

[Asia Economy Reporter Kim Hyung-min] A trial will be held on the 7th for Kim Mo (43, currently incarcerated), a fisheries businessman who has caused a stir by exposing that he bribed active prosecutors and journalists while carrying out a squid scam worth 10 billion won.

According to the legal community on the 6th, the 22nd Criminal Division of the Seoul Central District Court (Chief Judge Yang Cheol-han) will hold the third hearing for Kim at 3 p.m. on the 7th.

Kim was arrested and indicted on charges of fraud under the Act on the Aggravated Punishment of Specific Economic Crimes for receiving a total of about 11.62 billion won from seven victims between June 2018 and last January, using investment in "Seondong Ojingeo" (squid caught and immediately frozen on the boat) as bait.

He deceived victims by claiming, "If you invest in Seondong Ojingeo, you can earn three to four times the profit within a few months," and was found to have received investment funds ranging from a minimum of 50 million won to tens of billions of won per person.

It was investigated that Kim committed the crime through Song Mo, a former journalist he met in prison while serving a two-year sentence for fraud in November 2016, and others introduced by Song.

Song invested about 1.74 billion won with Kim and suffered losses, and the older brother of former lawmaker Kim Moo-sung, who was introduced to Kim by Song, also lost about 8.64 billion won.

In addition to the fraud, Kim revealed that he provided money and goods to an active chief prosecutor, a police officer of the rank of superintendent general, and former and current journalists.

Accordingly, the police have booked four individuals for violating the Improper Solicitation and Graft Act: former Seoul Southern District Chief Prosecutor Lee Mo, who was demoted to deputy chief prosecutor; the former Pohang Southern Police Station chief who was suspended from duty; Lee Dong-hoon, former editorial writer of Chosun Ilbo; and Eom Seong-seop, anchor of TV Chosun.

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