Prosecutors arrest key suspect into Seongnam land development scandal

A key figure in all of the snowballing land development scandal in Seongnam, just to the of Seoul, was rotting in jail Friday for questioning previously mentioned allegations that Gyeonggi Gov. Lee Jae-myung, the appealing Democratic Party’s leading leadership contender, gave business contributes to to certain developers.

Yoo Dong-gyu, former actor president of Seongnam Developing Corp., was apprehended on prosecutors at a hospital Fri morning and was come to the Seoul Central Territory Prosecutors Office. He was posed to appear before prosecutors by 10 a. m. unfortunately requested that his glimpse be delayed by a few hours due to his alleged ailments, judicial officials said.

oo, reported by a little bit of media as having a tighten relationship with Lee, is considered to have been deeply associated with a controversial land efficiency project in Seongnam’s Daejang district launched in 2015, when the governor was offering as the city’s mayor.

In recent weeks, Even offers has come under growing scrutiny over accusations he gifted business favors to Hwacheon Daeyu Asset Management, the trick investor in the Daejang querelle development project. The allegations pointed to a possible individual connection between Lee as well as project, from which Hwacheon Daeyu, with a combined capital amongst 350 million won (US$297, 063), reaped colossal rewards of more than 400 billion won in dividends.

Yoo is suspected and are generally playing a key role to be able to designing the shareholder formation and profit distribution associated with Seongnam Park Co., the biggest developer of the Daejang assignment, in a way that benefits Hwacheon Daeyu, one of the company’s shareholders.

Media reports have in addition raised questions about the enhancement relationship between Lee as well as owner of Haecheon Daeyu, Kim Man-bae, saying Hope, a former journalist, had preceding interviewed Lee as the Seongnam mayor in 2014.

Yoo is also diagnosed of owning one of the investor companies in the Daejang supervision and receiving money from Hwacheon Daeyu. Yoo was appointed to head the Gyeonggi Holidays Organization after Lee is elected the province’s leader, raising speculation that he have been one of the governor’s confidantes.

According to sources in just the prosecution, an accountant and person in the Daejang project has furnished recordings that allegedly step Yoo’s demand of elements of Hwacheon Daeyu’s dividends while discussions of potentially illicit finance payments. They said the statistician named Jeong Young-hak, who owns an affiliate of Hwacheon Daeyu, submitted 19 recordings towards conversations between Yoo together with Kim. The recordings apparently contain discussions on a pursuits expenditure of 8 tera- won from the company’s funds, among others.

Shelter has denied all suggestions, including reports of her close relationship with Yoo.

Yoo has denied the allegations connected with receiving money from Hwacheon Daeyu.

Prosecutors, who raided Yoo’s property or home and the office of Hwacheon Daeyu earlier this week, occur questioning ranking officials from Seongnam Development Corp., that overseen the Daejang formation project. (Yonhap)

Prosecutors arrest key suspect into Seongnam land development scandal
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