lawmaker-illegal stock trading

SEOUL, Sept. 8 (Yonhap) -- Prosecutors have indicted independent Rep. Lee Choon-suak without physical detention on charges of trading stocks under a borrowed name, officials said Tuesday.

The four-term lawmaker is accused of violating the law on real-name financial transactions for allegedly trading stocks using a brokerage account under his aide's name in March 2020 and June 2024, the Seoul Southern District Prosecutors' Office said.

He also faces additional charges of receiving a total of 29 million won (US$21,500) from four acquaintances in the form of condolence money for his mother's funeral and gift money for his daughter's wedding in 2021 when he served as the secretary general of the National Assembly.

Lee left the ruling Democratic Party in August last year after a press photo showed him trading stocks on a mobile phone using the name of one of his aides inside the parliamentary plenary chamber.

A police investigation into Lee began soon afterward after the main opposition People Power Party and a civic group filed a complaint against him.

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