The court said, “We are considering bail” for Kim Man-bae, who was arrested again for hiding 39 billion earned in criminal profits from the Daejang-dong development.
Regarding the bail application requested by Mr. Kim and his close associates, Hwacheon Daeyu CEO Lee Han-seong and director Choi Woo-hyang of the Seoul Central District Court’s 1st Criminal Single Court said, “They get accused of concealing criminal proceeds, but the first trial will determine whether the proceeds from Daejang-dong are criminal proceeds or not. The judgment has not come out for over a year,” he said. “The case cannot be completed within the six-month detention period.”
The judge said, “After six months are up, everyone will be released and it will not be possible to issue an arrest warrant again,” he explained.
The maximum detention period in the first trial is six months, so even if the court does not accept the bail application, Mr Kim can be released at the end of September, and CEO Lee and Director Choi will also be released in July.
The court also plans to merge all 10 cases, including Kim’s wife and Hwacheon CEO Daeyu Lee Seong-moon, who were also charged as aides in concealing criminal proceeds.
