Im Mo, Detained Last October
Bail Hearing Date Remains "Undecided"
Im Mo, former head of a division at Woori Bank who was arrested and indicted on charges of leading improper loans to relatives of former Woori Financial Group Chairman Sohn Tae-seung, has requested bail from the court.
According to legal circles, on the 28th, Im requested conditional release from the Seoul Southern District Court Criminal Division 15 (Presiding Judge Yang Hwan-seung). If bail is granted, he will be able to stand trial without detention on the condition of paying a certain deposit. The date for the bail hearing has not yet been set.
The prosecution conducted a search and seizure at the Woori Bank headquarters in Jung-gu, Seoul, on August 27 last year, regarding the improper loans amounting to 35 billion won involving relatives of Son Tae-seung, former chairman of Woori Financial Group. Photo by Kang Jin-hyung
Im was arrested and indicted in October last year. While working as the head of Sindorim Financial Center and Seolleung Financial Center, he is accused of involvement in improper loans after building a relationship with Kim Mo, the brother-in-law of former Chairman Sohn (charges include breach of trust and bribery under the Act on the Aggravated Punishment of Specific Economic Crimes).
Woori Bank’s legal counsel for Im stated that the bail request was made on the grounds that Im has been cooperating sincerely with the investigation and trial so far, and that the maximum detention period is about to expire. The maximum detention period for the first trial is six months.
Earlier, Im largely admitted to the charges during the hearing held on the 11th.
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