Kim Man-bae and Nam-wook’s arrest period extended by up to 6 months

(From left) Yoo Dong-gyu – Kim Man-bae – Nam-wook – Jung Min-yong. File photo Yonhap News

The arrest period of Kim Man-bae, the major shareholder of Hwacheon Daeyu Asset Management (Hwacheon Daeyu), and lawyer Nam Wook, who were indicted in the case of Daejang-dong development lobbying and preferential treatment, were extended by up to six months.

On the 20th, the 22nd Criminal Settlement Division of the Seoul Central District Court (Chief Judge Lee Jun-cheol) issued arrest warrants for Kim and Nam, respectively, requested by the prosecution on charges of violating the Act on Aggravated Punishment of Specific Economic Crimes (bribery) and violating the Political Funds Act. This is because there is a possibility of destroying evidence.

As a result, the detention status is maintained for up to six months again until the judgment of the first instance is pronounced. The arrest period for Kim and Nam was scheduled to expire on the 22nd of this month.

According to the Criminal Procedure Act, the period of detention is up to six months from the time of indictment to the sentencing of the first trial. Arrest warrants were issued for the two men on charges separate from the case that led to their arrest.

Initially, the arrest warrants for Kim and Nam were charged with conspiring with Yoo Dong-gyu, former head of the planning division of Seongnam Urban Development Corporation, to have Hwacheon Daeyu, a private operator, collect profits of at least 117.6 billion won, including dividends from housing site development (aggravated certain economic crimes). Breach under the Punishment Act) was included as a criminal fact.

In the newly issued arrest warrant, Kim was charged with embezzling company money at the end of April last year and passing 2.5 billion won (excluding tax) to the son of former lawmaker Kwak Sang-do. He was charged with giving political funds.

Earlier, on the 20th of last month, an additional arrest warrant was issued for Yoo Dong-gyu, the former general manager, who was about to expire at the time, and he is being tried in custody along with Mr. Kim and lawyer Nam.

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