elect Documents Threaten Frontrunner
Fraud Suspect’s Mother Submits Contracts Involving Lee Myung-bak to Prosecution
By Kim Rahn
Staff Reporter
The authenticity of an alleged ``side contract'' has become the key in the probe into the leading presidential candidate's possible involvement in stock manipulation by his former business partner Kim Kyung-joon.
Kim's family claims a Korean-language contract is the evidence implicating Grand National Party (GNP) candidate Lee Myung-bak's real ownership of the scandal-ridden asset management company BBK, while the GNP claims the contract is a fake.
Kim's mother arrived in Seoul from the U.S. Friday morning, bringing the alleged original copies of the behind-the-scenes contracts and submitted them to the prosecution. She said she has brought more related documents but did not disclose what they are. Speculations are that they may be financial transaction records of related companies.
Kim was charged for stock rigging and corporate fund embezzlement while running BBK and Optional Ventures Korea six years ago. He and Lee co-founded LK e-Bank. Kim claims LK e-Bank was the holding firm of BBK, and Lee took part in the financial scam as the real owner of BBK, a claim Lee denies.
Kim's family claimed they have three English-language side contracts on which Lee signed in his own handwriting, and a Korean one which is initialed with Lee's stamp.
On the Korean one made in February 2000 is written ``vendor Lee Myung-bak,'' ``vendee Kim Kyung-joon, president of LK e-Bank,'' and ``Lee sells 610,000 shares of BBK to Kim for 4.9 billion won.'' The family claimed it proves Lee owned BBK.
But the GNP claims the three English contracts are not side agreements but formal ones unrelated to BBK. ``Lee did not use a stamp for contracts at that time. Also, the stamp on the contract is different from Lee's,'' Rep. Hong Joon-pyo said.
Hong also said most of BBK shares were owned by a third person at that time.
Prosecutors are examining the authenticity of signatures and stamps on the submitted documents, but the investigation is not likely to be concluded soon.
Prosecutors allowed his mother to meet Kim for an hour.
Kim's mother said that her daughter, Erica Kim, would visit Korea in the near future. Erica Kim, who helped her brother's business and thus allegedly knows much about the scandal, has persistently claimed Lee's implication in the financial scam in recent interviews.
The GNP protested MBC's airing of Erica Kim's interview for 30 minutes in a radio program, saying the broadcaster allowed a ``crime suspect'' to spread false information. She is under trial in the U.S. on money-laundering and false tax reporting charges.
In the meantime, the pro-government United New Democratic Party urged the prosecution to conclude the probe as soon as possible.
Prosecutors had planned to give an interim report before Sunday but their conclusions will probably be delayed until early December.