Prosecution Executes Detention Warrant on Kim Bong-hyun Ahead of Detention Hearing Citing "Flight Risk"

Detention Request at Kim Bong-hyun's Residence Around 6:30 AM on the 20th

[Image source=Yonhap News]

[Asia Economy Reporter Yoo Byung-don] The prosecution executed an arrest warrant for Kim Bong-hyun, the former chairman of Star Mobility, who has been identified as a key figure in the Lime Asset Management scandal involving a suspension of redemptions worth approximately 1.6 trillion won. This was due to concerns that he might flee ahead of the pre-trial detention hearing (warrant review).

On the morning of the 20th, around 6:30 a.m., the Seoul Southern District Prosecutors' Office visited Kim’s residence to execute the arrest warrant and detained him at the Seoul Southern District Court. Kim was scheduled to attend the warrant review at 10:30 a.m. that day on charges of fraud and violation of the Act on the Regulation of Conducting Fund-Raising Business without Permission.

Originally, Kim’s legal team planned to hold a press briefing around 10 a.m. before the warrant review. However, Kim’s lawyer stated, "Due to the prosecution’s execution of the arrest warrant, the scheduled press briefing could not be held."

The prosecution’s sudden execution of the arrest warrant was confirmed to be based on concerns over Kim’s potential flight risk. A prosecution official explained, "Considering various circumstances such as failure to appear at previous hearings and sentencing dates different from the warrant review, we judged there was a flight risk."

Previously, Judge Park Young-soo of the Seoul Southern District Court Criminal Division 11 was scheduled to hold the first trial sentencing hearing on the 16th at 2 p.m. for former prosecutor-turned-lawyer Lee and prosecutor Na, along with Kim, who were indicted for violating the Improper Solicitation and Graft Act (Anti-Graft Act).

However, Kim’s side reportedly informed the court around 11:30 a.m., before the sentencing hearing, that he would not be able to attend. Consequently, the court postponed the sentencing hearing to the 30th, two weeks later. Additionally, Kim did not attend the warrant review scheduled for the same morning for the same reason.

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