Investigation into Kim Keon-hee
Investigation is underway regarding potential connections between Kim Keon-hee, the former First Lady of South Korea, and a crypto market maker embroiled in allegations of manipulating lower market cryptocurrencies. According to OhMyNews, the special prosecution unit looking into Kim has reached out to authorities investigating a well-known market player referred to as Jon Bur Kim, whose legal surname is Park.
Allegations Against Park
Prosecutors suspect Park, 44, of engaging in fraudulent activities linked to what are termed “scam coins.” The inquiry into Park, along with several affiliates, is still progressing.
OhMyNews reported that the prosecution recently sought documentation related to the Park case, stating that Kim faces allegations of corruption and influence peddling during her period in the First Lady role under President Yoon Seok-yeol, who was ousted earlier in the year after attempting a controversial martial law declaration in December 2024.
Connections to Lee Jong-ho
In the lead-up to the investigation, Min Joong-ki, the chief prosecutor handling Kim’s case, was noted to have summoned Lee Jong-ho for questioning. Lee, previously the head of Blackpearl Invest, had his residence and car searched by prosecutors, who suspect he accepted a bribe of 58,000 USD from an executive in the automotive sector accused of stock market manipulation.
Prosecutors believe that Lee sought to influence legal proceedings by contacting Kim to advocate for leniency on behalf of the executive. A deeper examination of the financial interactions between Kim and Lee has been initiated, with authorities contemplating the possibility that Lee may have tapped into Kim’s bank accounts to facilitate the illicit transactions.
Park’s Arrest and Charges
Meanwhile, Park has been arrested and charged, alongside the CEO of a software firm, surnamed Moon. They are alleged to have misappropriated billions of won through the introduction and sale of a suspected fraudulent cryptocurrency called Atube in 2021. In addition to Atube, Park is also being investigated for another suspected scam coin, Podo, from which he allegedly embezzled approximately 80 billion won utilizing similar tactics earlier in the same year.
Dramatic Escape Attempt
In a dramatic turn of events last December, Park tried to escape to China via boat but was intercepted by the South Korean Coast Guard during a storm, forcing his vessel to return before it could reach the international waters. Upon apprehension, authorities found him hiding aboard the boat.
Prosecutors have since seized multiple luxury vehicles from Park, along with substantial cryptocurrency assets, while estimates of his wealth, including real estate holdings, suggest he possesses hundreds of billions of won.
Current Status
As of the latest reports, there has been no official statement from the Special Prosecutor Team in response to inquiries from OhMyNews.
