Prosecution Conducts Final Investigation Before Indicting Kim Man-bae and Nam Wook

Accomplices in Embezzlement Jeong Min-yong and Cheonhwa Dongin 6ho Lawyer Cho Hyun-sung Also Summoned

[Image source=Yonhap News]

[Asia Economy Reporter Ki Ha-young] The prosecution, investigating allegations of preferential treatment in the Daejang-dong development project, conducted final interrogations a day before the detention deadline of Kim Man-bae, the major shareholder of Hwacheon Daeyu Asset Management (Hwacheon Daeyu), and Nam Wook, the owner of Cheonhwa Dongin No. 4 and a lawyer.

According to the legal community on the 21st, the dedicated investigation team of the Seoul Central District Prosecutors' Office (led by Deputy Chief Prosecutor Kim Tae-hoon) interrogated Kim and lawyer Nam in the afternoon, focusing on solidifying the charges at the final stage.

They are accused of conspiring with former Seongnam Urban Development Corporation Planning Director Yoo Dong-gyu (detained), accountant Jeong Young-hak, owner of Cheonhwa Dongin No. 5, and lawyer Jeong Min-yong to channel enormous profits to Hwacheon Daeyu and Cheonhwa Dongin Nos. 1 to 7, thereby causing losses to the corporation (breach of trust under the Act on the Aggravated Punishment of Specific Economic Crimes).

Kim is charged with promising a bribe of 70 billion KRW to former Director Yoo and embezzling 500 million KRW of company funds to deliver it. Lawyer Nam is also accused of receiving favors during the Daejang-dong project, embezzling 3.5 billion KRW of company funds, and deceitfully giving it as a bribe to lawyer Jeong under the pretense of project investment funds.

The detention deadline for Kim and lawyer Nam is until the 22nd, and the prosecution is focusing on securing statements from both to accurately calculate the amounts involved in breach of trust and bribery charges.

Lawyer Jeong, an accomplice in the breach of trust charges and accused of receiving 3.5 billion KRW from lawyer Nam through Yuwon Holdings, a company established with former Director Yoo, was also summoned and interrogated by the prosecution on the same day. Jeong, who served as the head of the Strategic Business Office at Seongnam Urban Development Corporation, had his arrest warrant requested along with Kim and lawyer Nam earlier this month but was the only one whose warrant was dismissed, thus remaining under investigation without detention.

Lawyer Cho Hyun-sung, owner of Cheonhwa Dongin No. 6, was also summoned by the prosecution on the same day. Cho is a figure who, around 2009, promoted the private development of Daejang-dong with lawyer Nam and accountant Jeong Young-hak, and is suspected of being involved in securing initial project funds from the investment advisory firm Kin & Partners in this project.

The prosecution is also investigating the so-called "50 Billion Club," including former lawmaker Kwak Sang-do, former Supreme Court Justice Kwon Soon-il, and former special prosecutor Park Young-soo, who are suspected of receiving or agreeing to receive large sums of money in exchange for favors to Hwacheon Daeyu.

After indicting Kim and lawyer Nam on the 22nd, the prosecution is expected to summon former lawmaker Kwak and others identified as members of the "50 Billion Club" soon to probe the substance of lobbying allegations involving political and governmental circles.

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