Prosecution Indicts Son Tae-seung's Brother-in-law on Suspicion of Unfair Loans at Woori Bank
Kim Mo, the brother-in-law of former Woori Financial Group Chairman Sohn Tae-seung, has been indicted in connection with allegations of improper loans involving relatives of the former chairman.
![[Image source=Yonhap News]](http://www.asiae.co.kr/news/img_view.htm?img=2024091311470029828_1726195620.jpg)
On the 24th, the Financial Investigation Division 1 of the Seoul Southern District Prosecutors' Office (Chief Prosecutor Kim Su-hong) announced that Kim was arrested and indicted on charges of violating the Act on the Aggravated Punishment of Specific Economic Crimes (embezzlement) and forgery of private documents.
Kim is accused of inflating the transaction amount on sales contracts during the purchase of real estate through a corporation, thereby receiving excessive loans from Woori Bank. Last month on the 27th, the prosecution conducted searches and seizures at eight offices, including Woori Bank's headquarters in Jung-gu, Seoul, and the Seolleung Financial Center, as well as four residences related to the case. The court issued an arrest warrant for Kim on the 7th, citing concerns over flight risk and evidence tampering.
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The prosecution is investigating based on the Financial Supervisory Service's inspection results, which revealed that Woori Bank issued improper loans totaling approximately 35 billion KRW to corporations or individual business owners related to relatives of former Chairman Sohn from April 2020 to January of this year.
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