Low Possibility Due to Previous Escape Record
But There Are Precedents of Fugitives Being Granted Bail
[Asia Economy Reporter Yoo Byung-don] The decision on the bail applications filed by former Star Mobility Chairman Kim Bong-hyun and others involved in the Lime scandal will be made this week. Former Chairman Kim submitted a bail application on the grounds that "active victim recovery and exercise of defense rights" are necessary. The hearing is scheduled for the 2nd. Kim’s close aide, former Star Mobility Director Kim, also applied for bail on the 20th of last month and will be questioned on the same day as Kim.
Moon Eun-sang, former CEO of SillaJen, who was indicted on charges of pocketing an unfair gain worth approximately 191.8 billion KRW through a fund-circulation scheme using paper companies, has also applied for bail. His hearing is scheduled for the 3rd.
The acceptance or rejection of their bail applications is attracting attention as it will indicate the court’s bail standards for economic offenders. In the case of former Chairman Kim, the possibility of bail being granted is low due to his history of fleeing. Kim’s side is expected to argue during the bail hearing that there is no flight risk due to the attachment of an electronic monitoring device. Kim disappeared ahead of the pre-arrest suspect interrogation (warrant review) in December last year and was captured by the police in April after five months on the run.
On the other hand, the situation is somewhat different for former CEO Moon. Former SillaJen CEO Lee Yong-han, who was indicted together, was released on bail last month on the grounds that there was no risk of evidence destruction or flight. Since Moon was indicted as a co-defendant with Lee and has no particular history of fleeing, the likelihood of his bail application being accepted is high.
It is clear that factors such as flight risk or the possibility of evidence destruction greatly influence the court’s decision on bail applications. However, it is difficult to say that these factors alone determine the court’s judgment. For example, Kim, the former CFO who helped former Chairman Kim embezzle funds from Suwon Passenger Transport and fled overseas before surrendering, was recently released on bail.
Won Jong-jun, CEO of Lime, who applied for bail on the 17th, cannot help but be keenly attentive to the bail hearing results of former Chairman Kim and others. Won, who was arrested and indicted on charges of selling approximately 200 billion KRW worth of Lime trade finance funds by deceiving investors into believing that there was no default and that he would invest directly in overseas trade funds, has his hearing scheduled for the 14th of next month.
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