Important Clue Proving Connection with Ssangbangwool
Prosecution Intensifies Third Headquarters Raid and More
[Asia Economy Reporter Kim Hyung-min] The prosecution is accelerating investigations into the allegations of attorney fee payments on behalf of Lee Jae-myung, a member of the Democratic Party of Korea, and the embezzlement and breach of trust case involving Ssangbangwool. It has been ten months since the civic group "Awakened Citizens Solidarity Party" filed a complaint last October. The investigation into the attorney fee payment allegations must be completed by the 9th of next month, when the statute of limitations expires, so the investigation is likely to accelerate further.
According to the prosecution on the 4th, the Criminal Division 1 of Suwon District Prosecutors' Office conducted a search and seizure at the Ssangbangwool headquarters building in Yongsan-gu, Seoul, on the 2nd. This was the third search and seizure at Ssangbangwool headquarters following those in June and July. The recent search was reportedly conducted in connection with suspicions of leaks of investigation secrets related to the Ssangbangwool embezzlement and breach of trust case. It was confirmed that Investigator A from the Criminal Division 6 of Suwon District Prosecutors' Office, who is investigating the Ssangbangwool case, leaked investigation secrets, and Criminal Division 1 is currently verifying this information.
The leak of investigation secrets was discovered during a search and seizure of the law firm office of attorney Lee Tae-hyung, who was part of Lee Jae-myung’s defense team in the "Public Official Election Act violation" case, conducted by the Public Investigation Division on the 7th of last month in connection with the attorney fee payment allegations. Confidential documents believed to have been created by Criminal Division 6 were found on site. Through this, the prosecution believes that investigation secrets were leaked to the law firm where attorney Lee is affiliated around the end of May. There is also a possibility that attorney Lee and another colleague attorney B are involved. Attorney Lee has experience working as a chief prosecutor at Suwon District Prosecutors' Office in 2010 and 2013. It is also suspected that he is connected to former Ssangbangwool chairman Kim Sung-tae, who suddenly left for Singapore in early June, and this matter is being examined. The legal community views Investigator A’s leak of investigation secrets as a significant turning point in the prosecution’s investigation. Revealing the details could provide crucial evidence proving the connection between the attorney fee payment case and Ssangbangwool.
The attorney fee payment allegations claim that attorney Lee received 300 million KRW in cash and convertible bonds (CB) worth 2 billion KRW from Ssangbangwool as fees for handling Lee Jae-myung’s Public Official Election Act violation case. The Ssangbangwool embezzlement and breach of trust allegations involve suspicious transactions worth tens of billions of KRW that occurred during the issuance and resale of CBs within the group from 2020 to 2021, as reported by the Financial Intelligence Unit (FIU) last November.
The prosecution has diligently collected numerous materials and summoned witnesses for investigation regarding these allegations but reportedly faced difficulties in applying legal principles. Most facts have been confirmed, but there was no decisive evidence to prove illegality. However, with the detection of investigation secret leaks and the three recorded conversations (48 minutes, 21 minutes, and 5 minutes) secured by the investigation team, the investigation is expected to gain momentum. The recordings reportedly include statements that "attorney Lee received approximately 2 billion KRW in fees."
Some suggest that instead of dividing the two cases between two departments, a "special investigation team" should be formed. A prosecution official stated, "There are no changes at this time."
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