Prosecutors' Two Requests for Arrest Warrants Rejected
Court Dismissed Communication Warrant Request Last Month
Bail Revocation Request Delayed, Approved Today
Police Issue Nationwide Wanted Notice at Prosecutors' Request
Kim Bong-hyun, former chairman of Star Mobility, who is wanted nationwide. Photo by Seoul Southern District Prosecutors' Office
[Asia Economy Reporters Seongpil Cho, Byeongdon Yoo] Kim Bong-hyun, former chairman of Star Mobility and a key figure in the Lime Asset Management scandal, fled ahead of his trial. The court belatedly accepted the prosecution's request to revoke Kim's bail, and the police issued a nationwide wanted order.
According to the Seoul Southern District Prosecutors' Office on the 11th, Kim was confirmed to have cut off his electronic monitoring device (electronic ankle bracelet) near Paldang Bridge in Hanam City, Gyeonggi Province, around 1:30 PM that day and fled. At the prosecution's request, the police issued a nationwide wanted order for Kim.
Kim was scheduled to appear at 3 PM that day for a trial at the Seoul Southern District Court Criminal Division 13 (Presiding Judge Sangju Lee) on charges of violating the Act on the Aggravated Punishment of Specific Economic Crimes (embezzlement).
Recently, the Seoul Southern District Prosecutors' Office trial division (Chief Prosecutor Junhyuk Gong) intensified the investigation by, among other measures, seizing assets worth approximately 6.5 billion KRW that Kim is suspected of hiding on the 27th of last month, which is interpreted as increasing pressure on him.
Additionally, at the trial on the 28th of last month, the prosecution requested the court to revoke Kim's bail, stating, "Insider testimony confirmed that Kim prepared to illegally enter China if he was expected to be detained in court due to failure to reach an agreement with the victims."
In response, the court delayed its decision but issued a belated acceptance after Kim fled.
Previously, regarding another fraud charge involving approximately 9 billion KRW for which Kim was indicted, the prosecution requested arrest warrants twice. However, Kwon Giman, the judge in charge of warrants at the Seoul Southern District Court, dismissed the warrants, stating, "At this stage, it is difficult to recognize grounds and substantiality for detention," and "The suspect has diligently attended related trials for over a year since being released on bail."
Kim was arrested and indicted in May 2020 on charges including embezzling hundreds of billions of KRW from Suwon Passenger Transport and Star Mobility and providing money and entertainment to political circles and the prosecution, but was released on bail in July last year.
He is accused of embezzling 24.1 billion KRW of operating funds from the bus company Suwon Passenger Transport, 40 billion KRW invested from Lime after acquiring Star Mobility, and 37.7 billion KRW of assets held by the Hyanggun Sangjohoe after acquiring it.
Meanwhile, after the court accepted Kim's bail request, the prosecution imposed a travel ban fearing overseas escape. Subsequently, the prosecution requested a communication warrant last month for a burner phone suspected to have been used in preparing illegal departure, as Kim's air routes were blocked. However, the court reportedly dismissed the warrant at that time, citing "lack of necessity and substantiality."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
