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FSS official suspected of bribery

Posted October. 24, 2000 12:35,   


There is a suspicion that the Financial Supervisory Service(FSS) tried to cover up illegal lending by Dongbang Mutual Saving, which involves a bribery of an FSS director-general.

The FSS said that it is investigating Chang Rae-Chan, who was in charge of inspecting mutual savings firms, as he is suspicious of having received billions of won in stocks and cash from Korea Digital Line.

However, the FSS officially denied rumors that it already knew of such a situation. Also, the FSS traced bank accounts of people other than Korea Digital Line president Chung Hyun-Joon, who is suspected of receiving illegal loan from Dongbang Mutual Saving, but the bank watchdog body did not properly announce the finding.