Rhyme Scandal 'Main Figure' Lee In-kwang Released in France During Domestic Extradition Discussions

Investigation Authorities' Plan, Disruptions Inevitable

Lee In-kwang, chairman of Esmo, who is called the 'mastermind' of the Lime Asset Management scandal, was released on bail in France during discussions about his extradition to South Korea.

[Image source=Yonhap News]

According to the legal community on the 19th, Lee, who fled overseas while under investigation in South Korea and was apprehended in France, was recently released following a French court's decision to grant bail. He was arrested by Interpol in Nice, France, in March after 4 years and 5 months on the run abroad.

As a result, the investigation authorities' plan to bring Lee to trial in South Korea to uncover the truth behind the Lime scandal has inevitably encountered setbacks. Lee, along with former Star Mobility chairman Kim Bong-hyun and former Lead chairman Kim Jung-soo, is known as a corporate raider referred to as the 'Lime executive group.'

Lee is accused of manipulating stock prices and embezzling company funds after acquiring listed companies such as Esmo and Esmo Materials using 130 billion KRW of Lime Asset Management funds.

He is also suspected of having his associates manage the listed companies he actually owned on his behalf and create slush funds while he was on the run overseas.