Police Conduct Search and Seizure at NongHyup Bank Headquarters...Employee Suspected of Bribery
Suspicion of Flood Damage under the Special Act on the Punishment of Specific Crimes
[Asia Economy Reporter Oh Gyumin] The police conducted a search and seizure at the NongHyup Bank headquarters in connection with allegations of bribery involving a NongHyup Bank employee.
On the 21st, the Financial Crime Investigation Unit of the Seoul Metropolitan Police Agency announced that they had booked NongHyup Bank employee A on charges of bribery under the Act on the Aggravated Punishment of Specific Economic Crimes, and conducted a search and seizure at the NongHyup Bank headquarters in Seodaemun-gu and related companies the previous day.
A police official stated, "We plan to analyze the seized items and summon related parties for investigation."
A is suspected of receiving several hundred million won worth of cash and real estate from a sales agency and exerting influence to allow a specific company to participate in an apartment sales project.
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In 2018, when the developer in charge of the urban development project in Gimpo-si, Gyeonggi-do went bankrupt, NongHyup Bank became the main creditor bank and gained management authority. This project involved supplying approximately 5,000 housing units in the area. At that time, A, who was in charge of the project at NongHyup Bank, is known to have been introduced to the sales agency through a broker.
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