Go to contents

Warrant for Min Kyung-chan for Charge of Fraud Today

Posted February. 05, 2004 23:34,   


The police who are investigating the brother-in-law of Roh’s elder brother, Min Kyung-chan, for the fundraising of 65.3 billion won, made a decision to request an arrest warrant for him on February 6 on the suspicion of seizing 400 to 500 million won from a real estate broker when Min was preparing to open a hospital in Icheon.

The Special Investigation Department of the National Police Agency which is investigating this case revealed on February 5 that, “Min changed his statements denying his raising investment fund.”

Following this, the possibility that Min’s alleged investment fundraising was not an actual case but a false statement is also being raised.

On this day the police summoned the real estate broker who is alleged to have had dealings with Min and who had discovered the fact that Min seized money from him by promising to give him the management of the hospital cafeteria.

The police summoned, on this day, ten people or more including the real estate broker and a Cho who is alleged to be Min’s close associate, referring to the addresses contained in Min’s account books and pocket books taken from his office.

It revealed, “All of them denied all the suspicions including the fundraising itself and two of them asserted that Min cheated them.”

Lee Sang-won, a manager of the Special Investigation Department, said “Min, who has maintained that he attracted 65.3 billion won from 47 investors but could not disclose investors, said on the morning of February 5 that it was all a lie,” adding that they are investigating the reliability of this statement.

Following this, the police are tracking the accounts of 20 people including Min’s younger brother Sang-chul, who is alleged to have been involved in his fundraising, and his close associate Cho.

Lee revealed that, “none of the twenty are politicians or government employees and they have a low possibility of being included in the 47 investors,” adding that “none were confirmed as the investors and the facts of the fund were not disclosed at all until now.”

The police, who thought that it would take time to create a full picture of this case, decided to request an arrest warrant for Min before 10 a.m. on February 6 when his warrantless arrest expires in order to secure him.

mungchii@donga.com roryrery@donga.com