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Former Special Prosecutor Park Young-soo and Chairman Hong Seon-geun are investigating the ‘5 billion club’ in Daejang-dong

Former People’s Strength lawmaker Kwak Sang-do is also scheduled to be summoned and investigated as a suspect this weekend.

Former special prosecutor Park Young-soo, whose name was mentioned in the so-called ‘5 billion club’, which received or promised to receive money from developers in Daejang-dong, appeared at the prosecution.

Special Prosecutor Park Young-soo, who was accused of receiving a Porsche rental car from a fake fisherman, Kim, who was arrested on charges of fraud worth 10 billion won, expressed his resignation on the 7th. Special Prosecutor Park’s entrance to the office on March 6, 2017 to announce the results of the final investigation into allegations of ‘Choi Soon-sil National Nongdan’. News 1 DB 2021.7.7″ style=”padding:0px;margin:0px”>

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▲ Special Prosecutor Park Young-soo, who rented a fisherman’s Porsche, expressed his resignation
Special Prosecutor Park Young-soo, who was accused of receiving a Porsche rental car from a fake fisherman, Kim, who was arrested on charges of fraud worth 10 billion won, expressed his resignation on the 7th. Special Prosecutor Park’s entrance to the office on March 6, 2017 to announce the results of the final investigation into allegations of ‘Choi Soon-sil National Nongdan’. News 1 DB 2021.7.7

According to the legal community on the 26th, the investigation team in charge of the Seoul Central Prosecutors’ Office (team leader Kim Tae-hoon, 4th deputy chief prosecutor) is investigating the afternoon of the afternoon by calling the former special prosecutor Park as a suspect.

Prosecutors are said to be confirming all the allegations raised so far against former special prosecutor Park, including his relationship with Kim Man-bae, a major shareholder of Hwacheon Daeyu Asset Management (Hwacheon Daeyu), and his role in the 2011 Busan Savings Bank investigation.

Former Special Prosecutor Park worked as an advisor to Hwacheon Daeyu, and his daughter, while working at Hwacheon Daeyu, sold the remainder of the apartment sold by Hwacheon Daeyu at half the market price at the time, causing controversy.

Kwak Sang-do and his son Kwak Byung-chae.  yunhap news

▲ Representative Kwak Sang-do and his son Kwak Byung-chae.
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In addition, Lee Mo, the representative of a sales agency in Daejang-dong, known as a relative of former special prosecutor Park, received 10.9 billion won from Kim Man-bae and delivered 10 billion won of this to Namo, a civil engineer around 2019.

Prior to this, in 2014, Lee promised to give 5 billion won to Kim and Nam lawyer in exchange for a business license, and it is also known that during the investigation process, Lee promised to give 4.5 billion won.

In 2009, former special prosecutor Park Woo-hyeong, a loan broker for Busan Savings Bank, who arranged a loan worth 100 billion won to the developer of Daejang-dong private developer Lee Kang-gil, was investigated in 2011 by the Supreme Prosecutor’s Office. There was also controversy.

Prosecutors will also summon Kwak Sang-do, a former member of the People’s Forces, and former lawmaker Kwak Sang-do, who was involved in the Daejang-dong lobbying allegation, as a suspect this weekend for investigation.

Prosecutors believe that when the Hana Bank consortium, in which Hwacheon Daeyu Asset Management (Hwacheon Daeyu Asset Management) participated, was on the verge of collapse, former lawmaker Kwak exerted influence on Hana Financial Group at the request of Kim Man-bae, the major shareholder of Hwacheon Daeyu.

Kwak Sang-do Independent Rep. Kwak Sang-do, who left the National Assembly after his son's 5 billion won severance payment controversy are boarding  yunhap news

▲ Kwak Sang-do, who left the National Assembly after his son’s 5 billion won severance pay controversy
Independent lawmaker Kwak Sang-do is boarding a vehicle to leave the National Assembly after he held a press conference at the National Assembly Communication Center on the 2nd and announced that he would resign as a member of the National Assembly after taking responsibility for his son Byeong-chae’s 5 billion won severance pay controversy.
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Prosecutors judged that Kwak’s son worked at Hwacheon Daeyu and received 5 billion won in the name of bonuses, etc.

Prosecutors summoned his son Kwak twice for investigation, and recently seized and searched Kwak’s home, office, and Hana Bank.

Money Today Chairman Hong Seon-geun (61), who was named “Mom Hong” on the “5 Billion Club” list, was also questioned by the prosecution on the same day.

Chairman Hong is said to have borrowed billions of billions of won from Mr. Kim three times since around 2019.

In this regard, it is reported that Kim’s side stated that Chairman Hong had borrowed money for a short period of time and repaid it, but that it had nothing to do with the Daejang-dong project.

Analysts say that the investigation into Hwacheon Daeyu’s political-relationship lobbying allegations has come to the final stage as the prosecution summoned officials from the list of ‘5 billion clubs’ one after another to investigate.

Byung-gyu Choi, staff reporter cbk91065@seoul.co.kr