‘Lime Behind’ Kim Young-hong’s Close Associate, Additional Transfer Ahead of Appeal Verdict... Numerous Casino Affiliates Sent to Prosecution

Seoul Nambu District Court Sentences 2 Years Imprisonment... 3 Years Requested in Appeal
Key Figures in Isla Resort Establishment and Operation Also Referred to Prosecution

Jung, a close aide of Kim Young-hong, chairman of Metropolitan and a key figure in the Lime Asset Management case, was apprehended overseas and is being repatriated through Terminal 1 of Incheon International Airport on the afternoon of the 22nd.
[Photo by Yonhap News]

[Asia Economy Reporter Yoo Byung-don] An associate of Kim Young-hong, chairman of Metropolitan and identified as the ‘mastermind’ behind the Lime Asset Management scandal involving a suspension of redemptions worth about 1.6 trillion won, was additionally found to have operated an illegal gambling den during the appeal trial and has been handed over to the prosecution.

On the 2nd, the Cyber Crime Investigation Unit of Gangwon Provincial Police Agency announced that four people, including Kim’s associate Jeong, were sent to Chuncheon District Prosecutors’ Office on the 31st of last month on charges including establishing a gambling space.

Among them, Jeong is currently undergoing trial after appealing a 2-year prison sentence handed down by the Seoul Southern District Court on charges of illegally profiting about 32 billion won while serving as the general manager of the Isla Resort Casino from December 2018 until the end of last year. Jeong was sentenced to 3 years in prison by the prosecution at the appeal trial’s closing arguments held at the Seoul Southern District Court on the 27th of last month. Jeong, who had been subject to an Interpol red notice, was arrested in the Philippines in January and extradited to Korea where he was detained.

Those handed over to the prosecution along with Jeong are reported to have been involved in the initial establishment and operation of Isla Resort. They are suspected of having operated the casino illegally before Kim acquired the resort in 2018. They are also accused of aiding Kim’s escape and have been reported for crimes including harboring a criminal. The investigation net is tightening around Kim, identified as the mastermind of the Lime scandal.

However, the police investigation into Kim’s close associate and relative Kim, known as Kim’s closest aide, has been suspended. On the 17th of last month, the Gangnam Police Station in Seoul decided to suspend the investigation into Kim’s associate and relative Kim, who is suspected of harboring a criminal. This decision was made on the grounds that it is impossible to determine the presence or absence of criminal charges against witnesses before investigating the whereabouts of Kim, who is currently missing.

A police official stated, "Some investigation into Kim was conducted, but since it was impossible to determine whether there was any criminal charge, the investigation was suspended." Kim had been staying in the Philippines and returned to Korea in May, after which he was banned from leaving the country and has been under police investigation. After the police decided to suspend the investigation, Kim entered Cebu, Philippines, but was denied entry locally and returned to Korea.

Meanwhile, Isla Casino, known as Kim’s hideout and means of funding, is reportedly still operating despite many related personnel being arrested by investigative agencies. Kim received about 300 billion won in investment from the Lime fund under the pretext of overseas resort business and fled abroad in October 2019. His whereabouts remain unknown to this day.

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