Prosecutors Arrest and Search 'Asset Concealment Aide' of Kim Man-bae
![On October 15 last year, Kim Man-bae, the major shareholder of Hwacheon Daeyu Asset Management (Hwacheon Daeyu), a key figure in the Daejang-dong development lobbying and preferential treatment allegations, was seen receiving help from a man wearing a helmet as he left the Seoul Detention Center in Uiwang, Gyeonggi Province, after his arrest warrant was dismissed. [Image source=Yonhap News]](http://www.asiae.co.kr/news/img_view.htm?img=2022121316231850365_1670916198.jpg)
On October 15 last year, Kim Man-bae, the major shareholder of Hwacheon Daeyu Asset Management (Hwacheon Daeyu), a key figure in the Daejang-dong development lobbying and preferential treatment allegations, was seen receiving help from a man wearing a helmet as he left the Seoul Detention Center in Uiwang, Gyeonggi Province, after his arrest warrant was dismissed. [Image source=Yonhap News]
View original image[Asia Economy Reporter Kim Hyung-min] The prosecution investigating the 'Daejang-dong development corruption allegations' arrested aides involved in concealing the assets of Kim Man-bae, the major shareholder of Hwacheon Daeyu Asset Management, on the 13th. They also conducted searches and seizures at their residences and offices.
The Anti-Corruption Investigation Division 1 of the Seoul Central District Prosecutors' Office (Chief Prosecutor Eom Hee-jun) announced that they arrested Lee Han-seong, co-CEO of Hwacheon Daeyu, and Choi Woo-hyang, director of Hwacheon Daeyu, in connection with charges of concealing criminal proceeds acquired by Kim. Searches and seizures were also conducted at the residences and offices of Kim, Choi, and Lee.
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Earlier, the prosecution had partially frozen real estate such as land and buildings owned by Kim under his real and borrowed names, as well as deposit refund claims, and had been tracking the concealed assets.
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