Rhyme 'Jubeom' Fugitive Aided by Former CEO of KOSDAQ-Listed Company Indicted and Detained

Lee In-kwang, former CEO of KOSDAQ-listed company DA Technology, who was arrested for aiding the overseas escape of Lee In-kwang, one of the main culprits of the Lime scandal, and embezzling hundreds of billions of won of company funds, has been brought to trial.

The Financial and Securities Crime Joint Investigation Division of the Seoul Southern District Prosecutors' Office (Chief Prosecutor Ha Dong-woo) announced on the 26th that Lee was indicted while in custody on charges including breach of trust and embezzlement under the Act on the Aggravated Punishment of Specific Economic Crimes, and aiding a criminal.

Seoul Southern District Prosecutors' Office, Yangcheon-gu, Seoul.
Photo by Daehyun Kim kdh@

According to the prosecution, Lee is accused of hiring Lee In-kwang's secretary as an employee of DA Technology and paying a salary to prepare funds for Lee's escape. In addition, Lee is charged with conspiring with Lee In-kwang to provide 4 billion won of company funds externally under the pretext of investment without any recovery plan, causing damage to the company, and embezzling 23 billion won for personal purposes such as repaying personal debts.

Since early this year, the prosecution has begun a full-scale crackdown on Lee In-kwang and his domestic accomplices, and Lee was arrested on the 9th.

Lee In-kwang is under investigation for manipulating the stock prices of KOSDAQ-listed companies, including DA Technology, after acquiring them one after another using about 130 billion won of Lime funds. After evading arrest overseas for more than four years, he was captured in France last March. His repatriation to South Korea is currently underway.