Former Woori Financial Group Chairman Sohn Tae-seung, who is accused of being involved in granting large-scale illegal loans to relatives, has been indicted without detention.
Former Woori Financial Group Chairman Sohn Tae-seung, who is suspected of improper loans involving relatives, appeared in court on the 26th at the Seoul Southern District Court in Yangcheon-gu, Seoul, to attend a pre-arrest detention hearing (warrant review) related to charges of breach of trust under the Act on the Aggravated Punishment of Specific Economic Crimes. Photo by Jo Yong-jun
The Financial Investigation Division 1 of the Seoul Southern District Prosecutors' Office (Chief Prosecutor Kim Su-hong) announced on the 21st that Sohn was indicted without detention on charges of breach of trust under the Act on the Aggravated Punishment of Specific Economic Crimes.
Sohn is accused of illegally lending 51.7 billion won in 23 installments to a company operated by his brother-in-law, Kim. The prosecution believes Sohn colluded with former Woori Bank vice presidents and department heads to systematically and structurally grant improper loans. The prosecution requested arrest warrants for Sohn twice, but the court dismissed both.
This investigation began in August following a Financial Supervisory Service audit that found Woori Bank had granted improper loans worth 35 billion won to corporations and sole proprietors related to Sohn's relatives. The prosecution also uncovered additional suspicions of illegal loans amounting to 10 billion won.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
