Bloomberg News
S. Korean President’s Brother Arrested Over Banking Scandal
By Seonjin Cha and Sangwon Yoon on July 10, 2012
South Korean President Lee Myung Bak’s older brother was arrested and detained over a savings bank bribery scandal, prosecutors said today.
Lee Sang Deuk, 76, who served six terms in parliament, was taken into detention early this morning, said Choi Woon Sik, head of the team investigating wrongdoing at savings banks. Prosecutors can detain a suspect up to 20 days before making an indictment, Choi said.
The arrest is a blow to President Lee and his New Frontier Party as the campaign to elect his successor later this year intensifies. The NFP narrowly held power in an April 11 parliamentary election after a former speaker in the National Assembly and long-time mentor to President Lee resigned over alleged vote-buying.
The allegations against Lee’s brother relate to receiving illegal political donations, said Cho Won Kyoung, a judge and spokeswoman at the Seoul Central District Court.
Comments
SURE WOULD LIKE TO KNOW.............................
AT 76 YEARS OLD, I SURE WOULD LIKE TO KNOW, WHAT HE NEEDS THE MONEY FOR ???.
BUT THIS IS NOT AS BAD AS BARCLAYS....................
SURE WOULD LIKE TO KNOW.............................
AT 76 YEARS OLD, I SURE WOULD LIKE TO KNOW, WHAT HE NEEDS THE MONEY FOR ???.
BUT THIS IS NOT AS BAD AS BARCLAYS....................