Arrest of Yoon's Spouse, South Korea's Ex-President Wife
Former South Korean First Lady Kim Keon Hee Faces Allegations of Stock Fraud, Bribery, and Influence Peddling
South Korea's former first lady, Kim Keon Hee, is embroiled in a significant scandal, facing a series of serious allegations related to stock fraud, bribery, and influence peddling.
At the heart of the stock fraud allegations is a price-rigging scheme involving the stocks of Deutsch Motors, a BMW dealer. Kim is accused of participating in this scheme, which reportedly earned her over 800 million won (approximately £428,000). Additionally, there is a reopened case of stock fraud dating back to 2009, which was previously closed due to insufficient evidence.
Kim is also accused of receiving high-end luxury items, including two Chanel bags valued at 20 million won (approximately $14,500) and a diamond necklace, from a religious group. These items were allegedly accepted as bribes in exchange for influence that favored the group's business interests. There is also a controversy surrounding a luxury Van Cleef pendant she wore without disclosing it in their financial reports, as required by local law.
The allegations of influence peddling involve Kim and her husband, Yoon Suk Yeol, exerting undue influence on the conservative People Power Party to nominate a specific candidate in a 2022 legislative by-election. This influence was allegedly at the request of election broker Myung Tae-kyun. Kim's aide is also under scrutiny for receiving questionable investments or sponsorships from conglomerates and financial firms.
The luxury Van Cleef pendant worn by Kim Keon Hee was not listed in the couple's financial disclosure, as required by local law. During her questioning last week, Kim claimed the pendant was a fake bought 20 years ago in Hong Kong, but the prosecution found it to be genuine.
The prosecutors filed for Kim's arrest warrant the day after her questioning, citing fears she would destroy evidence and interfere with the investigation. Kim has denied the accusations against her.
Yoon Suk Yeol, Kim's husband, faces trial following his ouster in April. The charges against him could potentially result in a life sentence or even the death penalty.
The scandal marks a significant moment in South Korean political history, casting a shadow over the former first couple. The investigation is ongoing, and further developments are expected in the coming weeks.
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