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Probe on Hong-Gul`s Ownership of TPI Shares

Posted May. 01, 2002 08:58,   


The second special investigation office (chief prosecutor Cha Dong-Min) of the Seoul District Prosecutor`s office re-summoned CEO of Tiger Pools International (TPI) Song Jae-Bin and related persons of TPI on April 20 to intensely investigate on suspicious lobbies during the selection process of sports lottery operator.

The prosecution continued a second day probe on the circumstance of relaying the money of CEO of Future City Environment Choi Kyu-Sun to Hong-Gul and whether the real owner of 13 thousand shares of TPI purchased with borrowed names is Hong-Gul by questioning CEO of C construction company Hwang In-Don, who is a brother-in-law of the third son Hong-Gul of President Kim Dae-Jung. Hwang had appeared before the prosecution in the afternoon of April 29.

The prosecution questioned Mr. Song and others about whether money and TPI stocks were transferred to Hong-Gul and Choi in return for meddling in operator selection, and about whether 1.5 billion Won given to Choi was a kickback for business.

The prosecution is also investigating whether Mr. Song was directly involved in lobbying of related officials of the Ministry of Culture and Tourism (MCT) or the National Sports Promotion Foundation, and will summon these related persons sooner than later.

The prosecution had a plan to call in Rep. Sul Hoon of the Millennium Democratic Party (MDP) on May 2, but rescheduled the summoning to 10 A.M. April 6 since Rep. Sul requested the delay for the reason of a meeting of political supporters. Rep. Sul had claimed, `Mr. Choi gave money to Rep. Yoon Yeo-Joon with a request to relay it to former president of the National Grand Party Lee Hoi-Chang.`

The prosecution will question Rep. Sul about the identity of informer on alleged bribery case of former president Lee and the disclosure circumstance, and the existence of recorded audiotape allegedly containing a conversation between Rep. Yoon and Mr. Choi.