Saemaeul Geumgo Central Association, Korea Investment & Securities and 8 Others Raided
The Criminal Division 6 of the Seoul Eastern District Prosecutors' Office (Chief Prosecutor Seo Hyun-wook) announced on the 4th that it has requested arrest warrants for former Saemaeul Geumgo Central Association employee Park Mo and branch employee Oh Mo on charges of illegal payment of real estate project financing (PF) loan fees (breach of trust under the Act on the Aggravated Punishment of Specific Economic Crimes).
The prosecution is investigating circumstances in which Noh Mo, who was in charge of the Saemaeul Geumgo real estate PF lending group, illegally paid 880 million won as consulting fees to a loan consulting company during the execution of an 80 billion won PF loan in April last year for the development of the Baekseok area in Cheonan. Park and Oh are believed to have established the consulting company under the names of family members and acquaintances, respectively.
On the 28th, the prosecution conducted raids on eight locations including the Saemaeul Geumgo Central Association and branches in Samseong-dong, Gangnam-gu, Seoul, and Korea Investment & Securities, the lead manager of the Baekseok PF loan, and on the 30th, Noh was arrested on charges of breach of trust under the Act on the Aggravated Punishment of Specific Economic Crimes.
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