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[Alpha Biz= Paul Lee] Prosecutors have indicted a former securities executive and a bank employee on charges of receiving bribes in exchange for approving loans to a real estate development company.
On the 30th, the Seoul Central District Prosecutor's Office's Anti-Corruption Investigation Division 3 announced the indictment of former LS Securities (formerly eBest Investment & Securities) executive A and Shinhan Bank branch manager B on charges of violating the Specific Economic Crimes Aggravated Punishment Act (bribery and financial intermediary).
A, the former securities executive, is accused of receiving bribes worth hundreds of millions of won from the head of a real estate development company, C, in return for approving loans between 2018 and 2022. In addition, A allegedly invested in real estate development projects and facilitated various loans for the company.
Prosecutors also uncovered evidence that B, a bank employee, received bribes from C in exchange for approving loans. C, the representative of the real estate development company, was indicted without detention for offering the bribes.
This case highlights the ongoing efforts by the prosecution to tackle corruption and misconduct within the financial and real estate sectors.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
