Prosecutors Conduct Search and Seizure at Saemaeul Geumgo Central Association President's Residence and Office

Regarding Allegations of Illegal Rebates in Private Equity Funds

The prosecution conducted a search and seizure of Park Cha-hoon, Chairman of the Saemaeul Geumgo Central Association, in connection with allegations of illegal rebates related to private equity funds.

According to the legal community on the 9th, the Criminal Division 6 of the Seoul Eastern District Prosecutors' Office (Chief Prosecutor Seo Hyun-wook) sent prosecutors and investigators to Park's residence and office the previous day to carry out the search and seizure.

On the 1st, the prosecution arrested Team Leader A of the Corporate Finance Division of the Saemaeul Geumgo Central Association on charges of receiving illegal rebates from ST Leaders Private Equity, a domestic private equity fund management company. Team Leader A is known to be a close associate of Chairman Park.