Financial Supervisory Service Refuses to Disclose Findings of Investigation

It has been reported that the Financial Supervisory Service sent the findings of its investigation to Cheong Wa Dae regarding suspicions of 65 billion won in fund raising activities by President Roh Moo-hyun’s elder brother, Gun-pyung’s brother-in-law, Min Kyung-chan (44, the director of Kimpo Purun Sol Hospital) after investigating Min.

However, both the Financial Supervisory Service and Cheong Wa Dae refused talk about the findings of the investigation, so an opposition party urged an immediate investigation of the prosecution. The repercussions over the suspicion have surprisingly increased.

On February 1, a vice director of the Financial Supervisory Service, Lee Young-ho announced that they passed the findings of the investigation to the senior secretary to the president for civil affairs, saying that “on afternoon of January 30, a chief of assets management division at the Financial Supervisory Service, Shin Hae-young, investigated Mr. Min at an unknown place in Seoul.”

However, Mr. Lee added that he was unable to open specific matters of the investigation to the public because Min’s statement was not yet confirmed. He also said that as a result, Cheong Wa Dae would release synthetic findings on the investigation soon.

Yoon Tae-young, Cheong Wa Dae’s spokesman, revealed that the investigation is not confirmed yet and that Cheong Wa Dae will take a position based on the final findings of the investigation as soon as the investigation is completed.

It has been reported that the Financial Supervisory Service investigated a process of fund-raising, a purpose of fund-raising, and whether or not Min made investments of 65 billion won against Mr. Min. Corresponding to the inquiry, Mr. Min kept his position equivalent to an interview with a weekly that reported his fund-raising.

Meanwhile, background related to investigation became a hot issue because the Financial Supervisory Service belatedly admitted the investigation after they denied it and they have kept silent.

The Grand National Party demanded an immediate investigation of the prosecution against Min today.

A spokesperson from the Grand National Party, Park Jin, criticized the investigation by saying that “Cheong Wa Dae’s silence raises suspicion over the investigation. Thus, the prosecution has to claim Min, search his house and office, and trace related bank accounts.”

In a press release, chairman of the Grand National Party, Choe Byung-yul strongly insinuated that he would take the offensive against the scandal, saying “fund raising 65 billion won for such a short period without a credible source for investment is abnormal. I will make special statement regarding this matter in a speech of the National Assembly set for February 4.”

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