'Absent at 1st Trial Verdict' Kim Bong-hyun, Re-arrest Warrant Issued... 9 Billion Won 'Muk-Twi' Allegation in Gwangju

This Time, the Warrant Hearing for Alleged Fraud and Unauthorized Fundraising Violations
Postponed at Former Chairman Kim's Request

[Image source=Yonhap News]

[Asia Economy Reporter Yoo Byung-don] The prosecution has once again requested an arrest warrant for Kim Bong-hyun, former chairman of Star Mobility, who has been identified as a key figure in the Lime Asset Management scandal involving a suspension of redemption worth 1.6 trillion won.

The Criminal Division 6 of the Seoul Southern District Prosecutors' Office (Chief Prosecutor Lee Jun-dong) announced on the 19th that it filed an arrest warrant request on the 14th against former Chairman Kim on charges of fraud and violation of the Act on the Regulation of Conducting Fund-Raising Business without Permission.

According to the prosecution, from 2017 to 2018, former Chairman Kim is accused of gathering about 350 victims in Gwangju and other areas by claiming to sell unlisted stocks, then embezzling about 9 billion won. After receiving reports from victims in the second half of 2020, the prosecution judged that Kim deceived victims by guaranteeing principal and profits through investment briefings and face-to-face sales, thereby embezzling money.

Since this case is separate from the trial Kim is currently undergoing, a pre-arrest suspect interrogation (warrant hearing) will be conducted instead of a bail cancellation request.

The warrant hearing was scheduled for the morning of the 16th but was postponed after Kim told the court, "If the date is postponed, I will definitely attend." On the same day, he was also absent from the first trial sentencing on charges of violating the Improper Solicitation and Graft Act for allegedly entertaining current and former prosecutors with expensive alcohol in the afternoon.

Meanwhile, Kim was indicted in May and August 2020 on charges of embezzling about 24 billion won from Suwon Passenger Transport funds and 40 billion won invested from Lime, and was on trial in custody until his bail application was accepted on July 20 last year, leading to his release.

Additionally, he is currently on trial for allegedly providing alcohol worth about 5.36 million won to current and former prosecutors at a room salon in Cheongdam-dong, Gangnam-gu, Seoul, on July 18, 2019. The prosecution has requested a six-month prison sentence for them.

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