Kim faces stock manipulation, election influence, bribery allegations — plus 13 more
The probe centers on her alleged role in stock price manipulation involving imported car dealer Deutsch Motors, influence-peddling in the 2022 by-elections and a bribery case linked to shaman Jeon Seong-bae.
But investigators still have 13 other major allegations to examine before their 150-day mandate expires on Nov. 29.
Among the list of suspicions, Kim faces accusations that her company, Covana Contents, had enjoyed extensive sponsorship from large companies seeking to build ties with Yoon Suk Yeol, who had served as the head of the Seoul Central District Prosecutors' Office before becoming prosecutor general and later president. The special counsel announced that it had 'reexamined past investigation records regarding the case involving allegations of sponsorships that might constitute bribes.'
The team has also conducted multiple search and seizure operations, and summoned individuals ranging from sitting lawmakers and a religious figure to former and current company CEOs.
It is also looking into Kim's alleged violation of the anti-graft law and was set to arrest her aide Kim Ye-seong, widely known as the former first lady's "butler."
A local court previously issued an arrest warrant for Kim Ye-seong in July on charges of occupational breach of trust.
The butler Kim was previously convicted for his involvement in forging a bank balance certificate for Kim Keon Hee's mother, and is suspected of receiving 18.4 billion won ($13.2 million) in improper investments from major companies — including Kakao Mobility, HS Hyosung and Shinhan Bank — for his rental car company IMS Mobility, formerly known as BeMyCar.
He is thought to have made a large profit by selling his 4.6 billion won stake through a shell company during the investment process.
But since the company had more debts than assets and was considered to be in a state of capital erosion, the special counsel team suspected that the investors provided funds as a possible quid pro quo, considering the close ties between Kim Ye-seong and the former first lady.
BeMyCar was also one of the companies that sponsored Covana Contents, an exhibition agency run by the former first lady, since the mid-2010s.
The special counsel team is set to investigate Kim Keon Hee's alleged involvement in a large-scale drug smuggling case.
The probe centers on claims that South Korean customs officials aided Malaysian smugglers in bringing methamphetamine through Incheon Airport in early 2023. After the suspected smugglers implicated an Incheon Customs official, a police investigation was launched but reportedly faced pressure to halt from high-ranking presidential, police and customs officials.
The allegations surfaced after Baek Hae-ryong, former head of the Yeongdeungpo Police investigation team, revealed that he received a phone call from Cho Byeong-no, a senior officer in the Seoul Metropolitan Police. During the call, Cho allegedly told Baek to remove references to the Korea Customs Service before the October 2023 press briefing announcing the investigation's results.
Cho was previously suspected of asking Lee Jong-ho — the former CEO of Black Pear Invest and a key suspect in the alleged stock price manipulation involving the former first lady — to help him get promoted.
Investigators suspect that the connections between Kim, the police official Cho and the businessman Lee may point to influence peddling and interference in state affairs.
The special counsel team also plans to continue its investigation into the recently revealed cases involving luxury gifts such as a Van Cleef & Arpels necklace and a Vacheron Constantin watch, as the team is required to look into any related criminal acts identified during its investigation.
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