Prosecution Indicts Park Young-soo of the '50 Billion Club' on Charges of Receiving 1.9 Billion Won

Former special prosecutor Park Young-soo, who was arrested on suspicion of involvement in the "Daejang-dong 5 Billion Club" scandal, was indicted on the 21st.

The key suspect in the 'Daejang-dong 5 Billion Club' case, former special prosecutor Park Young-soo, is attending the pre-arrest hearing held at the Seoul Central District Court in Seocho-gu, Seoul on the 3rd. Photo by Kang Jin-hyung aymsdream@

The Anti-Corruption Investigation Division 1 of the Seoul Central District Prosecutors' Office (Chief Prosecutor Eom Hee-jun) formally charged former special prosecutor Park with bribery under the Act on the Aggravated Punishment of Specific Economic Crimes and violation of the Improper Solicitation and Graft Act. Yang Jae-sik, a close aide who conspired with Park and former special prosecutor aide, was indicted without detention on bribery charges under the same law.

According to the prosecution, Park, who served as an outside director, chairman of the board, and audit committee member of Woori Bank from 2014 to 2015, is accused of receiving 800 million won after promising 20 billion won in exchange for accommodating requests related to the consortium of private developers including Nam Wook in the Daejang-dong development project.

He is also accused of receiving 1.1 billion won in five installments from September 2019 to February 2021 from Hwacheon Daeyu Asset Management, where Kim Man-bae is the major shareholder, under the name of "short-term loans" through his daughter Park Mo.

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