By Kim Tae-jong
Staff Reporter
The prosecution is rounding up its initial investigation into a financial scam allegedly involving the leading presidential candidate, but is taking a careful stance, emphasizing that it is still underway, which is contrary to expectations that a decisive announcement would be made as early as Tuesday.
``The investigation is still ongoing,'' prosecutor Kim Hong-il said Monday during a news briefing. ``We haven't yet decided what to announce and when and how to do so.''
Initial reports said the prosecution had almost completed its probe and planned to announce by Wednesday at the latest whether Grand National Party (GNP) candidate Lee Myung-bak was involved in the stock manipulation case.
The expectation came as it is the deadline for prosecutors to indict Kim Kyung-joon, Lee's former business partner, who is under arrest for stock manipulation and corporate fund embezzlement while he was running BBK and Optional Ventures Korea six years ago.
The two business partners co-founded LK e-Bank in February 2000. Kim claims the firm was the holding company of BBK and thus Lee took part in the stock manipulation as the actual owner of BBK.
But Lee denies all the claims despite Kim submitting an alleged ``side contract'' with Lee's stamp on it as evidence, which was made in February 2000.
The prosecution will also question other related figures and look into financial transactions until all the time allotted to it is used up, the prosecutor told reporters.
But he did not confirm whether it plans to summon Lee or has already given him written questions.
The careful approach by the prosecution is because the announcement of the result could affect the upcoming presidential election, which is only 15 days away.
It is important to question Lee. But should Lee refuse to cooperate, there are few steps that the prosecution can take.
According to the Election Law, presidential candidates cannot be arrested after being registered as presidential candidates and before the end of ballot counting. The exception is only when they are confirmed to have committed crimes eligible for heavy punishment such as the death sentence or life imprisonment.