Kim Won-kyu, representative of LS SECURITIES (formerly eBest Investment & Securities), has been sent to trial on charges of aiding illegal activities involving the misuse of executive job information.
On the 7th, the Seoul Central District Prosecutor's Office Anti-Corruption Investigation Division 3 (Director General Lee Seung-hak) stated that in June 2021, Kim, a former Deputy Minister of eBest Investment & Securities, received a painting valued at 46 million won for 30 million won and was charged with aiding Kim's embezzlement of project financing (PF) loans in October of the same year.
According to the prosecution, the former Deputy Minister utilized undisclosed job information related to real estate PF to personally run a construction company. It has been investigated that Kim approved the lending of 79.5 billion won from eBest Investment & Securities to a paper company operated by the former Deputy Minister.
The former Deputy Minister is accused of embezzling 83 billion won from PF funds by using job information, from which approximately 60 billion won was obtained, and of receiving 5.5 million won in connection with his duties as an employee of a securities firm, leading to his arrest and indictment last December.
In response, LS SECURITIES noted, "Kim has not improperly received expensive paintings from specific business-related executives or was aware of the misuse of PF loans related to such businesses while aiding it," adding, "We plan to actively clarify the prosecution's charges during the upcoming trial process."