Additional Freezing of Criminal Proceeds from 'Cheonhwadongin 6'... Total 14.6 Billion KRW

The prosecution has additionally frozen assets highly likely to be criminal proceeds related to 'Cheonhwadongin No. 6,' an affiliate of Hwacheon Daeyu Asset Management, a private business operator involved in the Daejang-dong development corruption case.

Seoul Central District Prosecutors' Office
Photo by Yonhap News

According to the legal community on the 13th, the Anti-Corruption Investigation Division 3 of the Seoul Central District Prosecutors' Office (Chief Prosecutor Kang Baeksin) recently filed a petition with the court for seizure and confiscation preservation to recover criminal proceeds related to Cheonhwadongin No. 6 and received an approval decision. Seizure and confiscation preservation is a procedure that freezes suspected criminal proceeds until the defendant's guilt is confirmed, preventing any arbitrary disposal.

The assets frozen this time include real estate, deposit claims, and high-end audio equipment worth tens of millions of won, totaling approximately 12.4 billion won. Combined with previously preserved deposit claims worth about 2.2 billion won, the criminal proceeds related to Cheonhwadongin No. 6 preserved by the prosecution to date amount to approximately 14.6 billion won. Accordingly, the total criminal proceeds preserved in connection with the Daejang-dong development corruption case have increased to about 223.2 billion won.

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