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Fugitive in embezzlement repatriated

Posted December. 12, 2000 14:53,   


The Seoul Police have arrested Kim Suk-In, president of Pusan Chonggu Finance, who has embezzled tens of billions of won and triggered suspension of operations of finance firms nationwide. He was brought back to Korea through a joint investigation with the official International Criminal Police Organization (Interpol).

While running Chonggu Finance with his brother, Suk-Won, since 1998, Kim attracted 158 billion won from nearly 7,000 investors. But he failed to redeem 80 billion won and escaped to Singapore last September. He was arrested at Macao Airport on his way from Singapore.

His brother voluntarily returned to Korea last March from a life as a fugitive in Thailand. Upon arrival, he was arrested and has been imprisoned with a sentence of eight years in jail.