'Daejangdong Embezzlement' Suspects Kim Man-bae, Nam Wook, and Jung Min-yong Face Detention Decision Today

Major shareholder of Hwacheon Daeyu, Kim Man-bae (left), and lawyer Nam Wook [Image source=Yonhap News]

[Asia Economy Reporter Kim Daehyun] The pre-arrest detention hearings for the so-called 'Daejang-dong Trio'?Kim Man-bae, the major shareholder of Hwacheon Daeyu Asset Management (Hwacheon Daeyu), Nam Wook, the owner of Hwacheon Daeyu's subsidiary Cheonhwa Dongin No. 4 and a lawyer, and lawyer Jeong Min-yong (former head of strategic business at Seongnam Urban Development Corporation)?will be held.

According to the court on the 3rd, Seo Bomin, the chief judge in charge of warrants at the Seoul Central District Court, will conduct the detention hearing for Kim at 10:30 a.m. At 3 p.m. and 4 p.m., detention hearings for lawyer Nam and lawyer Jeong will be held at the same court, presided over by Moon Seonggwan, the chief judge in charge of warrants.

On the morning of the 1st, the dedicated investigation team at the Seoul Central District Prosecutors' Office (led by Deputy Chief Prosecutor Kim Taehoon) additionally indicted former Seongnam Urban Development Corporation Planning Director Yoo Dong-gyu, who was previously arrested and indicted on bribery charges under the Act on the Aggravated Punishment of Specific Crimes, on charges of breach of trust and acceptance of bribes after the fact under the Act on the Aggravated Punishment of Specific Economic Crimes. Along with this, they applied accomplice charges related to this case and requested pre-arrest warrants for Kim, lawyer Nam, and lawyer Jeong.

Previously, on the 12th of last month, the prosecution requested an arrest warrant for Kim on charges including bribery, breach of trust, and embezzlement under the Act on the Aggravated Punishment of Specific Economic Crimes, but the court dismissed it. In the case of lawyer Nam, he was arrested and investigated immediately upon returning to Korea from the United States at Incheon Airport in the early morning of the 20th of last month but was released without an arrest warrant being requested. Whether the prosecution, which had been embroiled in controversy over 'inadequate investigation,' will succeed in securing their custody is expected to be a turning point that will determine the success or failure of this investigation.

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