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(Seoul=NSP NEWS) = Prosecutors investigating the Homeplus scandal have requested arrest warrants for MBK Partners Chairman Kim Byung-joo and other executives, seeking to secure new suspects. This marks the first mandatory arrest of a Homeplus major shareholder and executive in approximately eight months since the case was handed over to them by financial authorities.
According to legal sources, the Seoul Central District Prosecutors' Office's Anti-Corruption Investigation Division 3 requested arrest warrants on the 7th for Chairman Kim Byung-joo, Homeplus CEO Kim Kwang-il, MBK Vice President Kim Jeong-hwan, and Homeplus Executive Director Lee Seong-jin on charges of fraud under the Act on the Aggravated Punishment, etc. of Specific Economic Crimes and violation of the Capital Markets Act. Prosecutors believe they issued a large amount of short-term electronic corporate bonds despite being aware of the possibility of a credit rating downgrade and then filed for corporate rehabilitation, resulting in losses for investors.
Homeplus filed for corporate rehabilitation four days after its credit rating was downgraded in late February of last year, and its commercial paper and short-term bond credit ratings subsequently plummeted. MBK Partners stated,"We completely deny all allegations,"and that the warrant request was"excessive and unjustified."
Meanwhile, the suspect's interrogation before arrest is scheduled to be held early next week.
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