Two close associates of Kim Man-bae, the main shareholder of Hwacheon Daeyu Asset Management, were arrested on charges of concealing Daejang-dong’s criminal proceeds.
The prosecution, which has succeeded in securing the new recruits, is expected to speed up its investigation into money transactions with Kim and concealment of property.
According to the legal community on the 17th, Seoul Central District Court Chief Judge Kim Jeong-min in charge of warrants said, “Concerns about destruction of evidence and escape,” about Choi Woo-hyang, Hwacheon director Dae-yu, and Lee Han -seong, co-president of Hwacheon Dae-yu, who was accused of violating the Control of Concealed Proceeds of Crime Act, around 11:39 pm the day before. It is,” he said, and issued an arrest warrant.
It is known that Mr. Choi, who served as the vice chairman of the Ssangbangbang Group, has known Mr. Kim for 20 years and was in charge of keeping Hwacheon Daeyu’s house. On October 15 last year, after the first arrest warrant for Mr. Kim was dismissed, he appeared in front of the Seoul Detention Center wearing a motorcycle helmet and carrying his bags.
Mr. Lee is an assistant to Lee Hwa-young, former deputy governor of Gyeonggi-do, who was an assistant to the leader of the Democratic Party Lee Jae-myung, when he was a member of the National Assembly. After joining Hwacheon Daeyu in 2018 at the request of Mr. Kim, a former student of Sungkyunkwan University, is known to have controlled Mr Kim’s bank book or seal and managed withdrawals according to his instructions.
From October last year to July this year, they are accused of concealing 26 billion worth of money earned, such as withdrawing and hiding the proceeds from the Daejang-dong development in checks under Kim’s instructions, or buying real estate under borrowed names. by false accounting.
Kim’s side insisted that Seongnam Urban Development Corporation, a victim of negligence, had notified that it would seize Hwacheon Daeyu’s corporate account after Kim’s indictment.
With the arrest of two aides and the prosecution tracing his assets, the pressure on Mr Kim has increased.
