facebook
twitter
search
search

S. Korean regulator charged with bribes

Jan. 6, 2007 at 2:01 AM

SEOUL, Jan. 6 (UPI) -- One of the top officials in South Korea's financial watchdog agency has been charged with taking kickbacks from a businessman involved in a bank takeover.

Kim Jung-hoe, vice governor of the Financial Supervisory Service, allegedly took the money from Kim Heung-ju, the former head of Grace Department Store in Seoul, the Yonhap news agency said. Kim Heung-ju, whose store went bankrupt three years ago, has been under investigation for alleged embezzlement and bad checks.

In 2001, Kim Heung-ju launched an unsuccessful takeover of the Gold Mutual Savings Bank. Prosecutors say Kim Jung-hoe, at the time in charge of overseeing non-bank financial institutions for FSS, introduced him to officials at Gold and tried to help him with the takeover.

Like Us on Facebook for more stories from UPI.com  
Topics: Kim Jung
Latest Headlines
Top Stories
Duma approves construction of $4 billion bridge to Crimea
Putin reassures PM Alexis Tsipras after 'no' referendum vote in Greece
Shark bites Camp Lejeune Marine on North Carolina coast
Donald Trump deletes retweet about Jeb Bush's wife
England deletes 'sexist' tweet about Women's World Cup team