Prosecutors Request Interpol Red Notice for Former and Current Ssangbangwool Group Chairmen
Request to the Ministry of Foreign Affairs for Passport Invalidation
[Asia Economy Reporter Lee Myunghwan] The prosecution investigating embezzlement and other charges against Ssangbangwool Group has reportedly requested Interpol to issue red notices for the former and current chairmen of Ssangbangwool, who are staying overseas.
According to investigative authorities on the 23rd, the Suwon District Prosecutors' Office recently requested the National Police Agency to ask the International Criminal Police Organization (ICPO, Interpol) to issue red notices for the former and current chairmen of Ssangbangwool Group.
A red notice is a warrant issued by Interpol targeting suspects of serious crimes for whom arrest warrants have been issued. When a red notice is issued, the suspect's personal information, criminal charges, fingerprints, DNA, and other data are shared with law enforcement agencies of Interpol member countries and registered at airports and ports worldwide.
The prosecution also requested the Ministry of Foreign Affairs to invalidate the passports of the former and current chairmen of Ssangbangwool. If the passports are invalidated, they become illegal residents and can be forcibly deported from the local area.
Interpol and the Ministry of Foreign Affairs are reportedly reviewing the prosecution's requests.
The Suwon District Prosecutors' Office Criminal Division 6 (Chief Prosecutor Kim Youngnam) received suspicious financial transaction data related to Ssangbangwool from the Financial Intelligence Unit (FIU) and is investigating the process of selling convertible bonds (CB) worth 4.5 billion won issued by Ssangbangwool in 2020. Ssangbangwool Group is also suspected of paying large legal fees through convertible bonds and other means to lawyers who handled a Public Official Election Act violation case during the tenure of Democratic Party lawmaker Lee Jae-myung as Governor of Gyeonggi Province in 2018.
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The Suwon District Prosecutors' Office is currently conducting an integrated investigation into Ssangbangwool's embezzlement and other charges, as well as the Public Official Election Act violation (false information disclosure) allegations related to the payment of legal fees for lawmaker Lee.
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