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| ▲ Former lawmaker Kwak Sang-do appears for questioning at the Seoul Central District Prosecutors Office on Oct. 25, 2023. (Yonhap) |
ex-lawmaker-indictment
Ex-ruling party lawmaker indicted on additional charges linked to development scandal
SEOUL, Oct. 31 (Yonhap) -- Prosecutors on Tuesday indicted former ruling party lawmaker Kwak Sang-do on additional charges of concealing criminal proceeds in connection with a high-profile property development scandal.
Kwak was initially indicted on bribery charges in February last year for taking 5 billion won (US$3.9 million) from Hwacheon Daeyu Asset Management, a developer at the center of the scandal, in the form of severance pay and incentives for his son who worked at the firm. A Seoul court later acquitted Kwak of the charges.
The Seoul Central District Court on Tuesday additionally indicted Kwak, along with his son and Kim Man-bae, the owner of the developer, on charges of taking the money from Hwacheon Daeyu on the pretext of it being a bonus for his son and concealing it. Prosecutors put the amount concealed at 2.5 billion won, the sum after tax deductions.
Prosecutors suspect the money was given to Kwak in return for business favors extended to Kim.
Against Kwak's son, prosecutors raised charges of colluding with his father in connection with the suspected bribery.
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