Prosecution Conducts Search and Seizure at Hoban Construction and Buguk Securities over '50 Billion Won Bribery Involving Kwak Sang-do and Son'

The prosecution, investigating the '5 Billion Won Club' suspicion, launched a forced investigation on the 11th, targeting former lawmaker Kwak Sang-do and his son Byung-chae on charges including concealment of criminal proceeds.

Former People Power Party lawmaker Kwak Sang-do, who is accused of receiving bribes in the name of his son's severance pay from the Daejang-dong group, is attending the first trial sentencing hearing related to violations of the Act on the Aggravated Punishment of Specific Crimes at the Seoul Central District Court in Seocho-gu, Seoul on the 8th. Photo by Kang Jin-hyung aymsdream@

The Anti-Corruption Investigation Division 3 of the Seoul Central District Prosecutors' Office (Chief Prosecutor Kang Baek-shin) sent prosecutors and investigators to Hoban Construction, Bukuk Securities, and related offices this morning to secure materials related to the Daejang-dong development project.

The prosecution has booked former lawmaker Kwak's son, who worked as an employee at Hwacheon Daeyu Asset Management and received 5 billion won under the name of severance pay and other fees, on charges of bribery under the Act on the Aggravated Punishment of Specific Crimes.

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