The Ministry of Justice announced today that it has arrested Mr. Lee after 17 years of seeking extradition in New Jersey, USA at 2nd local time.
Stephen Lee is a key figure in the allegations that Lone Star bought Korea Exchange Bank at a bargain price for political and political lobbying and then sold it back. In 2005, when Lone Star was investigated for tax evasion, he fled the United States states
The Ministry of Justice, which began a full review of the Lone Star case last year, asked the United States to “accelerate the extradition process for Stephen Lee” on the occasion of attending the Asia-Pacific Criminal Justice Forum held in Japan in February.
In August 2006, the Korean government filed a request for Stephen Lee’s extradition to the United States, but it produced no significant results.
Previously, MBC PD Notebook received information from an American journalist that Steven Lee was living in New Jersey in the episode of “Compensate 300 Billion Won, Lone Star vs. Korea” last October and confirmed the location.
The Ministry of Justice said, “We will work closely with the US side to proceed with Mr. Lee’s extradition trial and return him quickly.”