Prosecution Arrests and Indicts Close Associate of Kim Young-hong, Chairman of Metropolitan, Behind Lime Scandal

Illegal Profits Worth 32 Billion Won from Operating Local Online Casino

[Image source=Yonhap News]

[Asia Economy Reporter Yoo Byung-don] Jeong, a close aide of Kim Young-hong, chairman of Metropolitan who is considered the mastermind behind the 'Lime Scandal,' has been indicted while in custody.

The Financial Investigation Division 2 of the Seoul Southern District Prosecutors' Office (Chief Prosecutor Kim Rak-hyun) on the 16th indicted Jeong on charges of operating a gambling space, having earned approximately 32 billion KRW in profits by running a casino targeting Koreans in the Philippines.

According to the prosecution, Jeong has been serving as the general manager of Isla Resort Casino on Mactan Island in the Philippines, which was acquired with Lime Asset Management fund money since around December 2018 until recently. He is accused of illegally gaining about 32 billion KRW by streaming an avatar casino, a type of 'proxy game,' to South Korea.

Jeong is also suspected of funneling overseas escape funds to Kim, the actual owner of the casino, by distributing the profits.

Jeong, who was on the run overseas, was arrested in the Philippines on the 8th of last month and repatriated to South Korea through Incheon International Airport on the 22nd of the same month. The prosecution immediately requested an arrest warrant, and the court issued it on the 25th of last month, citing concerns over flight risk and evidence tampering.

Meanwhile, Metropolitan, known as the actual owner by Kim, the 'Lime mastermind,' is a company that received an investment of 300 billion KRW from Lime funds. Kim is reported to have acquired Isla Resort with 27 billion KRW of that amount.

Kim is suspected of embezzling 300 billion KRW of Lime funds using Metropolitan and 15 related companies. Kim, who is chairman of Isla Resort, is currently on the run overseas and is subject to an Interpol red notice.

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