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Grills on Whether Lobbied for Rescue Mr. Yeo

Posted January. 12, 2002 11:25,   


Cha Jeong-Il, special prosecutor who is investigating on the `Lee Yong-Ho Gate` decided to request for an arrest warrant of Mr. Shin Seung-Hwan for the charge of the bribery as a violation of the Additional Punishment Law on Specific Crimes. The Special Prosecution suspects that Mr. Shin received 50 million won from Mr. Lee for the lobby through the related persons of the financial organizations for the purchase of the insolvent corporate bonds when he became a CEO of G&G owned by Mr. Lee in July last year.

A related source from the Special Prosecution also revealed that it "learned that Mr. Shin conducted lobbyist activities by meeting related persons of the Korean Asset Management Corporation (KAMC) for the transference of the Mr. Lee`s insolvent bonds. The special prosecutor is investigating whether he lobbied through the Finance Supervisory Commission (FSC) or other banks."

Hence, the Special Prosecution (SP) will summon related persons of the involved banks, FSC, and (KAMC) to investigate on the circumstances of the Mr. Shin`s lobbyist activity.

SP is also trying to clarify the purpose of the so-called salary, 16,660,000 won, that Mr. Shin had received from the company.

SP grills Mr. Shin whether he lobbied through Prosecutor General Shin to rescue Mr. Lee from the prosecutor`s investigation or whether Mr. Shin had received more money from Mr. Lee.

SP decided to add the charge of bribery as a violation of the Additional Punishment Law on Specific Crimes, if Mr. Shin met with Prosecutor General Shin to ask for a preferential arrangement before Mr. Lee was arrested in September last year.

Meanwhile, the Central Investigation Team commented on the investigation result of the Special Prosecution that "what the Special Prosecution judged the money that Mr. Shin received as a bribe instead of a signing bonus is simply a different legal judgment on the same fact. Prosecution judged that the Mr. Shin`s activities to request for the purchase of its stocks to the agents of KAMC is a part of his regular job as a CEO and therefore the Prosecution cleared him from a suspicion in September last year."