Prosecution Indicts Kim Won-gyu, CEO of LS Securities, for Aiding Misappropriation of Executive's PF Loan Funds

Kim Won-kyu, CEO of LS Securities (formerly Ebest Investment & Securities), has been indicted for aiding and abetting illegal use of executive job information.

Seoul Central District Prosecutors' Office, Seocho-gu, Seoul. Photo by Kang Jin-hyung

On the 7th, the Anti-Corruption Investigation Division 3 of the Seoul Central District Prosecutors' Office (Chief Prosecutor Lee Seung-hak) announced that Kim was indicted without detention on charges of receiving a painting worth 46 million KRW at 30 million KRW from former Ebest Investment & Securities head Kim in June 2021, and aiding and abetting the embezzlement of project financing (PF) loans by the former head in October of the same year.

The former head Kim operated a personal development company using undisclosed job information related to real estate PF, and it was investigated that Kim Won-kyu and others approved the paper company to borrow 79.5 billion KRW from Ebest Investment & Securities.

In December last year, the former head Kim was arrested and indicted on charges of embezzling 83 billion KRW in PF funds using job information (breach of trust under the Act on the Aggravated Punishment of Specific Economic Crimes), among other charges.

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