Prosecutors Conduct Third Search of Ssangbangwool... "10 Affiliates and Others"

[Asia Economy Reporter Kim Hyung-min] It has been confirmed that the prosecution is conducting additional raids on Ssangbangwool Group, which is under investigation for embezzlement and breach of trust charges.

The integrated investigation team, composed of the Criminal Division 6 (Chief Prosecutor Kim Young-nam) and the Public Investigation Division (Chief Prosecutor Jung Won-doo) of the Suwon District Prosecutors' Office, sent prosecutors and investigators on the 26th to more than 10 offices including the headquarters and affiliates of Ssangbangwool Group to secure related materials in connection with the ongoing investigation into embezzlement, breach of trust, and violations of the Capital Markets Act.

The Suwon District Prosecutors' Office has integrated the Criminal Division 6, which is investigating the executives' embezzlement suspicions involving hundreds of billions of won related to suspicious fund flows within Ssangbangwool Group, and the Public Investigation Division, which is handling the case of alleged violation of the Public Official Election Act related to the payment of attorney fees for Lee Jae-myung, a member of the Democratic Party of Korea, to jointly review the cases.

This is the third time the prosecution has conducted a raid on Ssangbangwool. Previously, the prosecution raided Ssangbangwool Group on June 23 and July 7. On the 4th, separate from the embezzlement case, a forced investigation was conducted due to a leak of investigation materials by an investigator belonging to the Criminal Division 6.

The scope of this raid is reported to be larger than the previous ones. The prosecution appears to be focusing on securing additional evidence related to the embezzlement suspicions.

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