Hwacheon Daeyu Asset Management's major shareholder Kim Man-bae's prosecution is investigating the alleged concealment of criminal proceeds today (19th).
The Seoul Central District Prosecutors' Office's Anti-Corruption Investigation Division 1 (Chief Prosecutor Eom Hee-joon) sent prosecutors and investigators to the residences of five Hwacheon Daeyu employees to find evidence related to the proceeds of crime.
Prosecutors suspect that Hwacheon Daeyu executives and employees were involved in concealing the profits from Kim's Daejangdong development.
Previously, during the investigation of Hwacheon Daeyu co-representative Lee Han-seong and director Choi Woo-hyang (former vice chairman of Ssangbangul Group), who were close to Kim, the prosecution found that Kim had concealed criminal proceeds from Hwacheon Daeyu employees’ acquaintances, such as officetels or borrowed-name safe deposit boxes. got it figured out
From November 2021 to November of last year, Mr. Lee and Mr. Choi withdrew 24.5 billion won from Daejang-dong development profits several times as checks in large denominations under the direction of Mr. Kim, and then reissued them as hundreds of small checks, hiding them in various places such as safe deposit boxes. He was indicted on charges.
Mr. Choi is also accused of concealing the 3 billion won that Mr. Kim received from Hwacheon Daeyu in the name of dividends in the form of a loan in October 2021.