elect Lee Myung-bak’s Former Business Partner Hid W30 Billion in Swiss Bank
By Yoon Won-sup
Staff Reporter
Kim Kyung-jun, a former business partner of presidential candidate Lee Myung-bak of the main opposition Grand National Party (GNP), was reported to have laundered 30 billion won and deposited the money in Swiss bank accounts.
Rep. Choi Sung of the pro-government United New Democratic Party (UNDP) claimed at an Assembly inspection of the Korean Embassy to the United States that the U.S. federal prosecution confirmed Kim has 30 billion won hidden in Swiss banks.
In response, Jeong Sang-hwan, counselor for legal affairs at the embassy, said it was true that the U.S. federal prosecution sought to confiscate 30 billion won worth of assets held by Kim, but it lost the civil forfeiture case last March.
Choi said the U.S. government considers the money in question illegally laundered money and alleged that the money could belong to the GNP presidential candidate.
However, Jeong refused to give more details because of an ongoing investigation.
The purpose of civil forfeiture is to confiscate assets gained by illegal acts.
The defendant in the case, Kim, a naturalized U.S. citizen, is implicated in a major scam known as the ``BBK Scandal'' in which he allegedly manipulated the stock price of BBK.
Kim co-founded the now-defunct asset management company in 1999 with Lee who now enjoys major support as a presidential candidate.
Choi also called for the early extradition of Kim so that he can shed light on Lee's alleged involvement in the scandal before the presidential election slated for Dec. 19.
Jeong said the U.S. State Department will issue a ruling on an extradition request after considering a U.S. federal court decision and bearing in mind Kim's nationality.
Earlier this month, Kim withdrew an appeal against extradition.
The U.S. State Department has the final decision and generally makes it within 60 days after the case is turned over by the judiciary.
Meanwhile, the GNP warned that it would take legal action if the UNDP continues to use the Assembly inspection as a tool to attack its presidential candidate.
GNP floor leader Ahn Sang-soo said, ``The attacks on Lee have reached an unbearable level. We will sue for libel any people who make use of the inspection to attack Lee regardless of their position.''
Ahn added that the UNDP seemed set to focus on Kim Kyung-jun and the BBK scandal in order to raise support for its presidential candidate Chung Dong-young, whose approval rate rose above 20 percent for the first time.