One month of investigation in Daejang-dong, which was ‘raunchy’… Prosecutors, poor report card

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In the beginning, the speed of the dedicated investigation team
Difficulty in proving bribery and breach of trust
Only 1 person out of ‘4 people’ stopped being arrested
There is no progress in identifying the 5 billion club

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news/2021/10/31/l_2021110101000021600348972.webp" loading="lazy"><b data-recalc-dims=Hwang Moo-seong and Jung Min-yong heading to the Central District Prosecutors’ Office Former Seongnam Urban Development Corporation President Hwang Moo-seong (pictured above), who is being investigated by the prosecution in connection with the alleged development lobbying and preferential treatment in Daejang-dong, Seongnam, Gyeonggi Province, and Jeong Min-yong, a former head of the strategic investment team, enter the Seoul Central District Prosecutors’ Office in Seocho-gu on the afternoon of the 31st. yunhap news”/>

Hwang Moo-seong and Jung Min-yong heading to the Central District Prosecutors’ Office Former Seongnam Urban Development Corporation President Hwang Moo-seong (pictured above), who is being investigated by the prosecution in connection with the alleged development lobbying and preferential treatment in Daejang-dong, Seongnam, Gyeonggi Province, and Jeong Min-yong, a former head of the strategic investment team, enter the Seoul Central District Prosecutors’ Office in Seocho-gu on the afternoon of the 31st. yunhap news

‘One person charged with detention, one arrest warrant dismissed, one person released after arrest, one witness.’

This is the report card of the last month’s investigation into the ‘Daejang-dong Four’, the key figures in the Daejang-dong development lobbying and preferential treatment allegations. As the prosecution is having a hard time proving the charges of bribery and breach of trust by the four men in Daejang-dong, the investigation from the upper level is also delayed without a promise.

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On the 31st, the 33rd day of the full-scale investigation, the investigation team in charge of the Seoul Central District Prosecutors’ Office (Team Leader Kim Tae-hoon, 4th Deputy Prosecutor) reviewed whether or not to request an arrest warrant for Kim Man-bae, the major shareholder of Hwacheon Daeyu. Prosecutors have not been able to reclaim Kim’s warrant for the 18th day since the court dismissed Kim’s arrest warrant on the 14th. Prosecutors plan to request an arrest warrant for Kim, Attorney Nam Wook, and accountant Jeong Young-hak as early as this week on charges of paying 70 billion won in bribes to Yoo Dong-gyu, former head of the planning division of Seongnam Urban Development Corporation, as early as this week.

In the early days, the investigation accelerated. At the same time as the launch on September 29, the dedicated investigation team seized and searched the residences and offices of four people in Daejang-dong, including former general manager Yoo, Mr.

On October 1, the third day of the formation of the investigation team, former general manager Yoo was arrested, and the allegation that a construction company executive was promised a large bribe and designed the project to bring huge profits to private businesses was aimed at.

However, the investigation began to falter as the arrest warrant for Kim, a key figure in the lobbying allegation, was dismissed. Prosecutors saw Kim as an accomplice to former general manager Yoo, who caused hundreds of billions of won in damages to Seongnam City through the Daejang-dong project, but failed to prove in detail the fact that Kim was involved in the breach and the amount of the breach. Mr. Kim only participated in the Daejang-dong project in November 2014, and Pangyo AMC, headed by Accountant Jeong, completed the framework of the Daejang-dong project, including the profit distribution structure, around April 2014.

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The contents of the Pangyo AMC business plan, such as ‘allocation of 50% + 1 share to construction’ and ‘limiting profits by allocating preferred shares to construction’, were reflected in the project after one year. Regarding Kim’s bribery charge of 500 million won, the prosecution initially said that he had delivered cash and a check, but later changed the claim that he only delivered cash.

It was pointed out that the prosecution did not secure enough material evidence such as money flow data other than the transcript of accountant Jeong.

The investigation was put to a halt. On the 18th, lawyer Nam, who voluntarily returned to Korea, was arrested at the airport, but the prosecution failed to request an arrest warrant. Former general manager Yoo was arrested and indicted, but the core charge of breach of trust was dropped. This means that the four people did not specifically specify their involvement in the alleged breach of trust. It is pointed out that this is a very poor report card for a mammoth-level investigation team of 24 prosecutors due to continuous recruitment. The other accountant, Jeong, was reported to have been recently converted to a suspect after being investigated by a witness for cooperation in the investigation despite the fact that he was deeply involved in the business design.

The investigation has not been able to rise to the top as the first gateway, the four people in Daejang-dong, are blocked from investigating the crimes. This is because the investigation into the allegations of involvement of the Democratic Party presidential candidate Lee Jae-myung can be extended only if the four people’s collusion for breach of trust is clearly identified. Prosecutors searched and raided the mayor’s office at Seongnam City Hall on the 21st, but it is reported that they failed to secure meaningful data related to Lee and his aides.

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The investigation into the ‘5 billion club’ suspicion, which is another branch of the investigation, is also experiencing difficulties. Regarding the son of Kwak Sang-do, who has already been confirmed to have received 5 billion won, the prosecution is facing difficulties in proving the cost.

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