Prosecutors said Wednesday they have found evidence of bribe taking by an elder brother of President Lee Myung-bak or associates of the brother, and plan to launch an investigation into allegations he took money in exchange for helping salvage a troubled savings bank.

Rep. Lee Sang-deuk, 77, who is also a lawmaker of the ruling Saenuri Party, or his associates are suspected of taking hundreds of millions of won, equivalent to hundreds of thousands of U.S.

dollars, from Prime Savings Bank before its operations were suspended last September, prosecutors said.

It marks the first time the elder Lee has become a target in prosecutors' ongoing investigation into a series of corruption scandals related to a number of now-suspended savings banks.

Earlier this month, prosecutors said they were investigating the possible source of about 700 million won (US$624,164) found in a bank account belonging to an aide to the elder Lee.

Prosecutors are expected to launch a separate investigation if they are able to confirm links between the period when the elder Lee or his associates allegedly took bribes and the time when the 700 million won was paid into the account, between September 2009 and November 2011.

Lee has denied all allegations, saying he was never asked for favors by any of the troubled savings banks.

In a press release later in the day, the elder Lee insisted on his innocence and vowed to take legal steps to repair his reputation.

"Not only have I taken responsibility for poorly managing my associate by announcing I will not run in the (April) general elections, but I have also apologized deeply to the people on numerous occasions," he wrote. "I swear upon my honor it is not true I lobbied for a certain savings bank in return for money."

The lawmaker was referring to another of his aides who was charged in December with receiving bribes from a different savings bank in exchange for influence-peddling.

"I have tolerated similar reports on the basis that is the fate of a public figure, (but from now on) I will demand accountability by all means under civil and criminal law," he said. (Yonhap News)