A former bank branch manager has been indicted for conspiring with a loan broker to approve tens of billions of won in bad loans and receiving tens of millions of won in kickbacks in return.
On September 10, the Financial Investigation Division 1 of the Seoul Southern District Prosecutors' Office (Chief Prosecutor Lim Sejin) announced that former bank branch manager A and loan broker B had been indicted without detention on charges of violating the Act on the Aggravated Punishment of Specific Economic Crimes (breach of trust, bribery, and offering of bribes).
From April 2022 to October 2024, A is accused of conspiring with B to approve a total of 2.471 billion won (approximately 24.71 billion won) in bad loans over 11 separate instances.
Investigations revealed that A received a total of 57.49 million won in return for these approvals.
A prosecution official stated, "We also plan to take measures to recover the criminal proceeds obtained in exchange for the bad loans."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
