By Jung Sung-ki
Staff Reporter
Political parties are abuzz on the possible fallout from the return of a former business partner of leading conservative presidential candidate Lee Myung-bak.
Kim Kyung-joon is accused of embezzlement and money laundering. He allegedly manipulated the stock price of his now-defunct investment firm, BBK, by spreading false information, and misappropriated $42 million in company funds in 2000.
He also set up a financial company LKe Bank in which nominee Lee of the main opposition Grand National Party (GNP) invested $3.2 million.
Lee, a former Hyundai CEO and Seoul mayor, has claimed he was a victim, not a co-conspirator in the fraud case.
Kim, who has been in jail in California since 2004, was scheduled to arrive in Korea early this morning to face questioning by the prosecution.
Reports said his extradition has been delayed, as U.S. authorities were reluctant to accept a request by Korea's Justice Ministry to change the place of extradition.
The ministry reportedly requested that Kim be handed over at ``a third place,'' not the airport in Los Angeles in a bid to block press access to him for fear that his unproven comments may have an influence on the upcoming presidential race.
The liberal political camp believes Kim's return would likely to help tip the balance of the current presidential race led by Lee, who enjoys public support of around 40 percent.
The GNP, on the other hand, has vowed to counteract any possible political abuse of the case.
GNP floor leader Ahn Sang-soo has raised the suspicion that a secret deal has been made between Kim and the prosecution. Some GNP officials speculate that Kim will try and implicate Lee in return for a reduced jail term.
``The prosecution should try their best to uncover the truth to prevent possible lies by the criminal to sway the presidential election,'' said Ahn.
The liberal United New Democratic Party (UNDP) has added pressure on prosecutors to dig up the truth behind the scandal allegedly linked to the GNP nominee.
``Why does the GNP make such a fuss over Kim's case, which it argues is not related to Lee Myung-bak?'' said Rep. Kim Hyo-seok, floor leader of the UNDP. ``The GNP claims there is a conspiracy over Kim's return. Does that mean the U.S. government is engaged in the conspiracy?''