Police Conclude No Prosecution on Suspicions of Aiding Tax Evasion by Former President Lee Myung-bak and Others at National Tax Service

'Insufficient Evidence' for Embezzlement and Breach of Trust Charges
'No Prosecution' for Tax Evasion Charges

[Image source=Yonhap News]

[Asia Economy Reporter Oh Gyumin] The police have decided not to indict former President Lee Myung-bak and others who were accused in connection with the National Tax Service's alleged assistance in tax evasion by Hana Bank in 2007.

The Financial Crime Investigation Unit of the Seoul Metropolitan Police Agency announced on the 22nd that it has decided not to indict former President Lee, former National Tax Service Commissioner Han Sang-ryul, former Hana Financial Group Chairman Kim Seung-yu, and others who were accused of violating the Act on the Aggravated Punishment of Specific Economic Crimes (breach of trust in the course of duty), dereliction of duty, and abuse of authority.

After receiving related materials from Hana Bank and conducting an investigation, the police concluded that former Commissioner Han and others could not be seen as having discretionary authority over accounting operations, and it was difficult to determine that former President Lee exerted external pressure. Regarding the tax evasion allegations against Hana Bank, the statute of limitations had expired, leading to a decision of no indictment due to lack of prosecutorial rights.

The civic group that filed the complaint, the Speculative Capital Watch Center, plans to file an objection as early as this week.

The complainants submitted the accusation at the end of 2020, claiming that after Hana Bank merged with Seoul Bank in 2007, it was found to have received corporate tax reduction benefits through irregular methods, and although the National Tax Service attempted to collect taxes, the Tax Pre-assessment Review Committee overturned the tax decision the following year.

In this process, the complainants allege that former President Lee and former Chairman Kim deceived those responsible for the tax pre-assessment review.

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