LOS ANGELES _ Family members of a Korean-American businessman, indicted in South Korea in a
financial scandal he claimed involved the country's front-running presidential candidate, suddenly canceled a news conference Wednesday that they said they would provide proof of the candidate's guilt.
The sister and wife of Kim Kyung-joon announced an hour and half before the scheduled news conference that they are canceling their appearance. In a notice posted at the venue of the conference, they said they apologize. They did not give any details explaining their decision and could not be contacted.
In Seoul, after a month-long investigation, prosecutors indicted Kim for rigging shares and embezzling some $35 million in corporate funds in 2001. Kim was a former business partner with Lee Myung-bak, the South Korean opposition's presidential candidate, who has a big lead in the upcoming Dec. 19 election.
Lee's ties with Kim, and suspicions that he knew about illicit activities going on at the company they co-founded, have dogged his campaign for months despite his consistent lead in the polls.
But the prosecution on Wednesday exonerated him, saying there is no evidence to prove that the candidate colluded in the stock manipulation.
Erica Kim, Kim's sister, accused the prosecution of manipulating the case and initially had said she would present evidence refuting the investigation results.
Meanwhile, the Korean prosecution is considering seeking extradition of Kim's elder sister and wife from the U.S. authorities to investigate the collusion with Kim in forgery of private documents and other frauds.
(Yonhap)