Photo : YONHAP News
A local court has issued arrest warrants for two key figures in a land development scandal.
The Seoul Central District Court on Thursday issued the warrant for Kim Man-bae, the largest shareholder of asset management firm Hwacheon Daeyu, saying that the suspect may destroy evidence and there was sufficient proof of his charges.
The prosecution requested the writ on Monday on charges of bribery, embezzlement and breach of trust.
Kim allegedly conspired with Yoo Dong-gyu, former acting president of Seongnam Development Corporation, and others so that Hwacheon Daeyu would reap profits of at least 65 billion won from the project, causing losses of that amount to the city-run developer.
The warrant issuance came three weeks after the court denied the prosecution’s first request, citing insufficient grounds for arrest.
The court also issued an arrest warrant for Nam Wook, a lawyer and private partner in the development project, citing that he may destroy evidence.
The court, however, refused to issue an arrest warrant for lawyer Chung Min-yong, former head of the strategy division at Seongnam Development Corporation. He is suspected of colluding with the key figures in the project.
Court Issues Arrest Warrants for Key Figures in Land Development Scandal
Source: Matira Matibay
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