[Asia Economy Reporter Kim Hyung-min] The detention period of Kim Man-bae, the major shareholder of Hwacheon Daeyu Asset Management (Hwacheon Daeyu), and lawyer Nam Wook, who were arrested and indicted as key figures in the Daejang-dong development project lobbying scandal, has been extended.
The Seoul Central District Court Criminal Division 22 (Chief Judge Lee Joon-cheol) issued detention warrants on the 20th for Kim on charges including violation of the Act on the Aggravated Punishment of Specific Economic Crimes (bribery), and for lawyer Nam on charges of violating the Political Funds Act. The court issued additional detention warrants citing evidence destruction as the reason.
Kim and lawyer Nam were scheduled to have their detention period expire at midnight on the 22nd. However, with the newly issued warrants, their detention will be maintained for up to six more months until the first trial verdict is delivered.
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