On the 30th, prosecutors indicted the former Deputy Minister of LS SECURITIES (formerly LS Securities) and a former Vice Administrator of Shinhan Bank on charges of accepting several hundred million won in bribes from a real estate development company in exchange for providing loans.
The Seoul Central District Prosecutor's Office Anti-Corruption Investigation Unit 3 (Director General Lee Seung-hak) announced that they had indicted the former Deputy Minister of LS SECURITIES, Mr. Nam, and the former Vice Administrator of Shinhan Bank, Mr. Jin, on charges under the Act on the Aggravated Punishment of Specific Economic Crimes.
They are accused of receiving several hundred million won between 2018 and 2022 in bribes for providing loans to the development company.
It was also revealed that Kim, the representative of the real estate development company who allegedly provided the bribes to them, was indicted without detention on charges of bribery under the Act on the Aggravated Punishment of Specific Economic Crimes.
Prosecutors reportedly captured Mr. Nam's crime while investigating a case of misappropriation of project financing (PF) loans using information obtained by former employees of LS SECURITIES last year. The former employee who was accused of misappropriating 83 billion won in PF loans was indicted in December of last year.