Home

The Korea Herald

Latest news

Most Popular

  1. 1

    Exports to US reach all-time high, widen gap with China

    Exports to US reach all-time high, widen gap with China
  2. 2

    Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'

    Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
  3. 3

    [Music in drama] Rekindle a love that slipped through your fingers

    [Music in drama] Rekindle a love that slipped through your fingers
  4. 4

    S. Korea discussed possible participation in AUKUS Pillar 2 with Australia: defense minister

    S. Korea discussed possible participation in AUKUS Pillar 2 with Australia: defense minister
  5. 5

    [New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea

    [New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
  1. 6

    On May Day, labor unions blast Yoon's foreign nanny proposal

    On May Day, labor unions blast Yoon's foreign nanny proposal
  2. 7

    Seoul Metro to seek legal action against malicious complaints

    Seoul Metro to seek legal action against malicious complaints
  3. 8

    Illit, mired in controversy, remains on Billboard charts for 5th week

    Illit, mired in controversy, remains on Billboard charts for 5th week
  4. 9

    [KH Explains] Will alternative trading platform shake up Korean stock market?

    [KH Explains] Will alternative trading platform shake up Korean stock market?
  5. 10

    S. Korea lowers COVID-19 warning level, lifts last-remaining antivirus mandates

    S. Korea lowers COVID-19 warning level, lifts last-remaining antivirus mandates
피터빈트

Ex-Shinhan chief under prosecution probe again

By Kim Yon-se

Published : Feb. 12, 2013 - 20:45

    • Link copied

Prosecutors have again placed former Shinhan Financial Group chairman Ra Eung-chan under investigation for his alleged embezzlement into a slush fund.

The prosecution recently launched an investigation into the allegation that a slush fund totaling 300 million won ($278,000) ― fostered by Ra ― was offered to then-lawmaker Lee Sang-deuk, brother of President Lee Myung-bak, in 2008.

The allegation was made by civic group Solidarity for Economic Reform that Ra had ordered Shinhan Bank’s then-CEO Lee Baek-soon to create the political slush fund.

In a separate case against the former Shinhan chief, the civic group filed a complaint against Lee Sang-deuk, who received a two-year jail sentence for receiving kickbacks.

The Financial Supervisory Service is also reviewing documents on the 2010 embezzlement scandal involving the former top three executives of Shinhan Financial amid fresh allegations related to borrowed-name bank accounts owned by Ra.

In late 2010, the financial regulator suspended Ra of his duties as chairman for violation of real-name account rules.

By Kim Yon-se (kys@heraldcorp.com)

More from Headlines