Prosecutors Conduct Search and Seizure at Saemaeul Geumgo... Including Chairman Park Cha-hoon's Residence
Suspicion of Corruption in the Private Equity Fund Investment Process
Prosecutors have launched additional search and seizure operations at the Saemaeul Geumgo and the residence of Park Cha-hoon, the chairman of the Saemaeul Geumgo Central Association.
According to the Seoul Eastern District Prosecutors' Office on the 20th, search warrants are being executed from the morning at the Saemaeul Geumgo Central Association and the residence of Park Cha-hoon, chairman of the Saemaeul Geumgo Central Association.
Prosecutors conducted search and seizure operations at the Saemaeul Geumgo Central Association and eight branches in March in connection with allegations of corruption in the private equity fund (PEF) investment process of Saemaeul Geumgo, and carried out two more search operations in April.
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On the 6th, prosecutors requested an arrest warrant for Ryu Hyuk, CEO of Saemaeul Geumgo Central Association Credit Guarantee, on charges including breach of trust, but the court dismissed the request.
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