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Three Key Individuals in Lee Yong-Ho Scandal Already Left Abroad

Three Key Individuals in Lee Yong-Ho Scandal Already Left Abroad

Posted September. 27, 2001 09:09,   


The prosecution probe over a financial and lobbying scandal can be troubled as key individuals allegedly involved in the scandal surrounding Lee Yong-Ho, chairman of G&G were found to have already left abroad.

Mr. Kim (34), president of a lottery company, have reportedly left for China last week, who, involved in financial transaction and abnormal stock exchange with Lee, is suspected of having introduced Lee to influential figures in this government.

Rep. Lee Joo-Young of the Grand National Party alleged in a parliamentary inspection of the Supreme Public Prosecutor’s Office on Sept. 25 that ``Kim introduced Lee Yong-Ho to a trustee of the Peace Foundation of the Asia-Pacific Region, Mr. Lee, and Lee Yong-Ho`s money is suspected to have flown into this foundation.``

Aiming at the profits from market value difference, Kim was also found to have traded with Lee Yong-Ho the shares of the cable television channel `Living TV,` which was entitled to broadcast horseracing. An investigation on Kim can be necessary for Lee is suspected to have lobbied in the process of obtaining Living TV`s right to horserace broadcast.

Mr. Woo, employee of Kim` company, said ``Kim`s whereabouts is unknown, but he is not likely in Korea.``

Mr. Kim (49), former executive director of D Finance Co., left for Japan last week, who was a grand stockholder of Lee`s affiliated companies--Daewoo Metal Co. (currently Interpion) and KEP Electronics Co.--, is now suspected to have relation to the scandal.

According to Prosecutor`s Office, Kim lend Lee two time the total sum of 990 million won in Aug. 1999 with the convertible bonds (CB) issued by KEP Electronics as security. Kim was also indicted without detention together with Lee in March last year for stock price manipulation of Daewoo Metal Co., and was sentenced to 20 million won fine at the first-level trial.

Kim`s wife said ``He went to Japan on business, and will return after Chusuk.``

Mr. Yun, senior director of Rocket Electrics Co., who left for Japan on Sept. 19, appears to be a key figure to reveal the truth of the scandal.

Yun traded the stocks of Living TV three times with Lee, and maintained close relationship with the ruling party politicians, the officials of Prosecutor`s Office and National Intelligence Service, as well as with Lee.

A Prosecution official said that ``New suspects are prohibited to leave the country as the investigation continues.`` but ``Nothing can be done to those who have already left abroad.``

Meanwhile, Supreme Public Prosecutor`s Office Central Investigation Section (director Yoo Chang-Jong) said that Lee`s bank accounts are being searched in order to reveal his usage of secret fund, but it is not an easy task because Lee withdrew hundreds of millions of won in cash.

One prosecution official said ``Lee sealed his lips concerning the usage of the fund.`` and continued ``The bank account that managed the secret fund respectively has not been found yet.``

Lee Myoung-Gun gun43@donga.com