An arrest warrant was requested for Kim Ki-yu (69), former chairman of the Taekwang Group Management Council, who is suspected of ordering an unfair loan worth 15 billion won.
The 4th Criminal Division of the Seoul Western District Prosecutors’ Office (Chief Prosecutor Yeo Kyung-jin) announced on the 1st that on September 30, it requested an arrest warrant for former Chairman Kim, who is suspected of violating the Act on the Aggravated Punishment of Specific Economic Crimes (breach of trust). It has been about a week since the second summons and investigation of former Chairman Kim was conducted.
Former Chairman Kim is accused of allowing a loan worth 15 billion won to be made without proper review at the request of Mr. A (65), who runs a real estate development company, in August of last year. It was reported that Mr. A had already received a loan worth 25 billion won from another bank, so he was unable to obtain additional loans from other financial institutions.
Mr. A is accused of embezzling approximately 8.6 billion won in loans received through borrowed-name accounts and using the loans for personal purposes such as stock investment. It was reported that 10 million won worth of this was deposited into a personal account owned by former Chairman Kim’s wife in October last year.
At the time, the working team of Taekwang Group affiliate Koryo and Yegaram Savings Bank, which was reviewing the loan, submitted a written opinion to the credit review committee stating that Mr. A had a ‘high business risk’, but it was reported that the loan was pushed forward at the request of former Chairman Kim.
It was revealed that B, former CEO of Korea and Yegaram Savings Bank (58), also participated in this process. At the time, it was discovered that former Chairman Kim instructed former CEO B to issue a loan, and former CEO B instructed this to a credit review worker. Mr. C (63), who served as the bank’s credit review chairman and risk management officer, is also said to have participated.
Last November, the prosecution received a complaint from the law firm in charge of external audit of Taekwang Group. Since January of this year, an investigation into former Chairman Kim has been underway. It has been reported that the prosecution has secured most of the circumstances surrounding the conspiracy, including a statement that former Chairman Kim directly ordered the illegal loans. The prosecution handed over five people, including Mr. A and former CEO B, to trial in July, and their first trial is currently in progress.
Former Chairman Kim is the person who has been in charge of management as the group’s second-in-command since former Taekwang Group Chairman Lee Ho-jin (62) was arrested in 2011. In February of last year, when former Chairman Lee was reinstated through a special pardon, Taekwang Group dismissed former Chairman Kim due to suspicions of misconduct.
Reporter Lee Ye-ji of Donga.com [email protected]
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2024-10-01 13:02:06