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Prosecutors detain ex-president Lee's asset manager in DAS probe

2018/02/13 18:30

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SEOUL, Feb. 13 (Yonhap) -- Prosecutors said Tuesday they have detained an asset manager of former President Lee Myung-bak for destroying evidence that may link Lee to slush fund allegations.

The Seoul Central District Prosecutors' Office took Lee Byung-mo, the executive secretary of Cheonggye Foundation, into custody on the charge of destruction of evidence. Lee is known to have long worked for the former president, mainly taking care of assets and property.

Lee is suspected of disposing of ledgers that apparently had detailed records of the ex-president's financial accounts, possibly created under borrowed names, and their transactions.

Prosecutors have questioned Lee Byung-mo over how much he knows about the proceeds from the sale of a large land lot in southern Seoul by the former president's family.

Prosecutors have been investigating allegations surrounding DAS, an auto parts maker, of which the former president is suspected to be the real owner, while it on paper belongs to his elder brother.

Lee Sang-eun, the largest shareholder of DAS, has told the prosecution that he bought his stake in DAS with the seed money he earned from the land sale. The prosecution believes it was the former president who acquired the DAS stake with the proceeds, only under his brother's name.

Investigating the course of the land sale is vital for the prosecution in not only determining the real ownership of DAS, but uncovering the ex-leader's 12 billion won (US$11 million) slush fund, which is alleged to have been kept hidden in the company.

The former president has categorically denied the allegations.