Lee Jong-ho, former representative of Plack Investment, attends the appellate trial verdict hearing related to the price manipulation of Deutsch Motors at the Seoul High Court in Seocho District, Seoul, on September 12th last year. /Courtesy of News1

The special investigation team for the deceased Marines is conducting a search of the home of Lee Jong-ho, the former CEO of Black Pearl Investment, on the 10th. Lee is the individual who managed the account of Kim Keon-hee, the wife of former President Yoon Suk-yeol, which was used for manipulating the stock price of Deutsch Motors.

Lee is also facing allegations that he lobbied for the ex-commander of the Marine Corps' 1st Division, Lim Seong-geun, using his relationship with Kim. It is reported that Lee, a former Marine, has maintained connections with people from the Marine Corps.

Earlier, the investigation team led by Park Jeong-hoon, the head of the Marine Corps investigation division, concluded that Lim and seven others should be prosecuted for professional negligence resulting in death related to the incident involving deceased Marines that occurred on July 19, 2023.

However, Yoon, who was informed of this on July 31 of the same year, became furious and called former Minister of National Defense Lee Jong-seob and others, after which the investigation results were changed, a situation referred to as the so-called 'VIP fury theory.' Subsequently, the police declared Lim as 'not guilty.'

During this process, allegations have surfaced that Lee attempted to rescue Lim. These allegations were raised by lawyer Kim Kyu-hyun, a member of the 'Cool Marines' Kakao Talk group that Lee created with other former Marines. Kim revealed that Lee, in a call with him a month after the incident involving the deceased Marines in August 2023, said, "I will talk to the VIP," discouraging Lim from resigning. However, Lim has denied any relationship with Lee.

Lee is not only a major target of the special investigation regarding deceased Marines but also of the special investigation concerning Kim Keon-hee. Lee was indicted for the stock manipulation case involving Deutsch Motors and received a sentence of two years in prison, suspended for three years, from the Supreme Court last April. It was investigated that between October 2010 and January 2011, Kim's securities account was used for manipulating the stock price of Deutsch Motors when she entrusted Lee and others with trading stocks. The Seoul Central District Prosecutors' Office cleared Kim last October due to insufficient evidence. However, the Seoul High Prosecutors' Office has launched a re-investigation, and the special investigation concerning Kim Keon-hee has continued to look into the case.

Meanwhile, the special investigation into deceased Marines is closely monitoring Lee regarding the stock manipulation allegations related to SAMBU Construction. In May 2023, Lee mentioned "SAMBU check" in the 'Cool Marines' Kakao Talk chat room. Subsequently, SAMBU Construction's stock price surged.

The special investigation into deceased Marines has been conducting searches since the morning of this day concerning allegations of pressure on the investigation, targeting around 10 locations, including the Ministry of National Defense and the Office of National Security. Former Minister Lee Jong-seob, former Presidential Secretary for Defense Lim Gi-hoon, former Chief Secretary for Public Service Ethics Lee Si-won, and Defense Ministry Spokesperson Jeon Ha-gyu are also among those whose locations were searched.

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