Seoul Yongsan Police Station▶ Click here for a larger view
It has been confirmed that the police are investigating the suspicious flow of funds from Hwacheon Daeyu, an asset management company suspected of favoritism in the development project in Daejang-dong, Seongnam-si, Gyeonggi-do.
According to Yonhap News on the 17th, the National Police Agency received an official letter from the Financial Intelligence Unit (FIU) in April this year stating that a suspicious flow of money was found in relation to Hwacheon Daewoo.
The FIU is said to have notified the police that there were parts that looked abnormal in financial transactions in 2019, including former journalist Kim and Lee, who are the major shareholders of Hwacheon Daeyu. Accordingly, the National Police Agency handed over the case to the Yongsan Police Station to proceed with the internal investigation, which is the pre-investigation stage.
A police official said, “If a criminal charge is found, it can be converted into an investigation, but it is not at that stage yet.” “We are closely examining the facts.”
Hwacheon Daeyu is a company that participated in the Daejang-dong development project promoted by Gyeonggi Governor Lee Jae-myung, a powerful presidential candidate of the Democratic Party, during his time as mayor of Seongnam. Controversy has arisen in the political arena, with some claiming that a significant portion of the profits from the Daejang-dong development project went to Hwacheon Daeyu.
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