Deutsch Motors, Geonjinbeopsa, and Unification Church Lobbying Listed in Arrest Warrant
Defined as 'Co-conspirator'
Special Prosecutor Cites "Evidence Destruction"
Decision on Kim Keonhee's Detention Expected as Early as Night of the 12th
The special prosecutor team led by Min Jungki, which is investigating allegations related to First Lady Kim Keonhee, has reportedly specified in her arrest warrant that she obtained 810 million won in illicit gains through the manipulation of Deutsch Motors stock prices.
According to legal sources on August 8, it has been revealed that the arrest warrant requested by the special prosecutor's team for Kim Keonhee the previous day included the amount of illicit profit from stock price manipulation.
The special prosecutor's team suspects that Kim Keonhee participated in the Deutsch Motors stock price manipulation that occurred between 2009 and 2012 as a 'financier' who provided funds, and has charged her with violating the Capital Markets Act.
The team determined that Kim Keonhee was not a mere accomplice but a co-conspirator in price manipulation, as she allegedly participated in the scheme through more than 3,700 trading orders, including collusive transactions (where buyers and sellers prearrange prices and trade stocks among themselves over a set period).
During a face-to-face investigation with Kim Keonhee on August 6, the special prosecutor's team presented a recording indicating that, during the second round of stock price manipulation, she entrusted her securities account to Black Pearl Invest on the condition of receiving a 40% return. However, Kim Keonhee reportedly denied the allegations, stating that she was unaware of any stock price manipulation.
Special Prosecutor's Team Also Cites 'Collusion with Political Broker Geonjinbeopsa'
The special prosecutor's team has also reportedly included in the arrest warrant that Kim Keonhee, in collusion with Jeon Seongbae (known as Geonjinbeopsa and identified as a 'political broker'), received expensive items from the Unification Church.
Previously, during her investigation by the special prosecutor on August 6, Kim Keonhee testified that she had never received any items, in response to suspicions that Yoon, the former global head of the Unification Church, had delivered a diamond necklace, a Chanel bag, and other luxury goods through Jeon Seongbae between April and August 2022 in exchange for lobbying on church matters. The special prosecutor's team reportedly constructed the criminal charges against Kim Keonhee by highlighting her collusion with Jeon Seongbae, based on recorded phone conversations with Yoon, to emphasize that they jointly accepted requests from the Unification Church.
Kim Keonhee and former President Yoon have also faced allegations that, during the 2022 20th presidential election, they received the results of illegal opinion polls from political broker Myung Taegyun. The special prosecutor's team has determined that Kim Keonhee received illegal opinion poll results from Myung Taegyun on more than 50 occasions, including both published and unpublished cases. She is accused of accepting a total of 270 million won worth of opinion polls as donations and subsequently intervening to secure the nomination of former lawmaker Kim Youngsun in the June 1 parliamentary by-election that year.
The special prosecutor's team has emphasized the necessity of detention, citing a high risk of evidence destruction given Kim Keonhee's denial of the charges, as well as the likelihood that she may evade investigation due to frequent hospitalizations. Additionally, after former President Yoon was removed from office following the approval of his impeachment bill in April, Kim Keonhee reportedly changed her mobile phone, which has also been cited as evidence of possible destruction of evidence.
The hearing to review Kim Keonhee's arrest warrant will be held at 10:10 a.m. on August 12 at the Seoul Central District Court, presided over by Judge Jeong Jaeuk, who is in charge of warrants. The decision on whether to detain Kim Keonhee is expected as early as late at night on the 12th. If the court issues the arrest warrant, it would mark the first time in constitutional history that a former presidential couple is detained simultaneously.
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