Lee Myung-baks Ex-Partner Faces Probe Today
By Kim Rahn
Staff Reporter
A stock manipulator who was a former business partner of Grand National Party (GNP) presidential candidate Lee Myung-bak will return to Korea as early as today to face questioning by the prosecution.
The main opposition GNP and pro-government parties are paying keen attention to the return of Kim Kyung-joon, as he is the key figure in an allegation that Lee was involved in the stock fraud.
Since the U.S. government approved the businessman's extradition to Seoul earlier this month, he was expected to return here around the middle of the month.
Officials from the Ministry of Justice reportedly arrived in Los Angeles to take him in to custody, but the ministry and the prosecution are not disclosing the exact date of his return.
Prosecutors said earlier the questioning would be conducted in confidence, as his testimony could have influence on next month's presidential election. It is predicted ministry officials and Kim may not follow the normal extradition process but use other means in order to avoid the media.
Kim, found guilty of money laundering in the United States, is alleged to have manipulated stock prices of his now-defunct firm BBK by spreading false information and to have embezzled 38 billion won in company funds.
In 2000, Kim and Lee jointly founded LK e-Bank. Lee's opponents claim that LK e-Bank was the holding company of BBK, thus involving Lee in the stock fraud. Kim also said this in an interview earlier this year.
Kim told his family that he would ``fight'' Lee ``at the risk of his life,'' according to his father, indicating Kim will present alleged evidence of Lee's involvement in the stock manipulation.
``The Lee camp is trying to prevent the media from reporting my son's return and spreads unconfirmed claims, calling him an `international swindler.' Lee denies the allegation and calls himself a victim, but my son is the real victim,'' Kim's father was quoted as saying by the Chosun Ilbo.
The GNP is bracing for a fight with Kim. Rep. Hong Jun-pyo said they are preparing for Kim's ``groundless'' claims, saying they worry that the prosecution may falsify its investigation to conclude the case before the election. Other GNP lawmakers also demanded the prosecution investigate the case fairly and to maintain confidentiality.
The pro-government United New Democratic Party, on the contrary, is raising more suspicions about the scandal.
Rep. Kim Jong-yull said in an interview that he had a tip that the former BBK head and Lee had a secret deal to hide the truth, urging the prosecution to thoroughly investigate the case.