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Bought Land at Higher Price as Reward for Lobby

Posted February. 01, 2002 09:43,   


The arrest warrant for Lee Hyung-Taek was requested for the charge of lobbyist activity through Wui Seung-Bok, the governor of Choheung Bank, in order for Lee Yong-Ho to take over Choheung Capital.

Lee Hyung-Taek is also suspected to have made a contract to receive 15 percent of the profit for his lobbyist activities through the government organizations including the National Intelligence Service and Mr. Lee Ki-Ho, former senior presidential secretary of the economy.

Mr. Lee Hyung-Taek requested a review of the warrant to the court and the court will make a decision whether to issue the arrest warrant at 10:30 A.M. on February 1st.

The Special Prosecution team (SP) concluded that Mr. Lee Hyung-Taek`s sales of 27,000 pyong land in Chulwon to Lee Yong-Ho for 280 million won, which is twice higher than the market price, was a reward for his solicitation to Mr. Wui a month later.

SP also detected evidence of money laundering through which Mr. Lee made transactions in tens of millions of won up to 120 million won through his account and between 100 to 200 million won repeatedly through his hidden account in bank H. SP is currently questioning him about the sources and the usage of the money.

SP is especially focusing on the investigation to disclose whether any money from Lee Yong-Ho that Mr. Lee received as a reward for his lobby for the Choheung Capital is included in the 150 million won in his account.

SP stated in its request for the arrest warrant to the court, "The treasure excavation project led by Lee Hyung-Taek is suspected as an act of violating federal law and order. There are concerns that Mr. Lee might run away or destroy the evidence considering the fact that he conferred with another witness before his appearance."

Mr. Lee H.T. was detained in the Kangnam Police Office after the SP investigation. He said, "I am sorry about all these disturbances."

With regard to the statement of protest by Mr. Lee`s lawyer that "the request for support from national organization is not the object of the SP investigation." SP submitted its opinion that "It is an object of the investigation." to the Seoul High Court.

Meanwhile, SP is planning to summon former senior presidential secretary of the economy Lee Ki-Ho on February 2nd and Lim Hui-Yoon, former Pusan High Prosecutor General, to investigate whether he illegally pressured anyone in or out of the Prosecution.

Wi-Yong Jung myzodan@donga.com · viyonz@donga.com