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Prosecutors said Sunday that they would pick up where the independent counsel left off in trailing the flow of the W15 billion ($13 million) slush fund that emerged at the end of the counsel's probe into the cash-for-summit scandal.
The central investigation department of the Supreme Prosecutors Office has received seizure and search warrants from the court to investigate related accounts. Moon Hee-nam, who is in charge of the investigation, said that it was necessary to examine the financial accounts because evidence could be destroyed if the investigation is idled too long. The prosecutors office has not begun a full-scale investigation, Moon pointed out, and if the National Assembly decides to allow a new special prosecutor team, the investigation will be handed over to the new investigators.
Nevertheless, the prosecutors office received full documents on the W15 billion investigation last Thursday from the just-disbanded special prosecutor's team and are currently examining them. The office will summon the debenture holders involved in the money laundering within this week, it said, which would signal the start of another investigation.
The special prosecutor's team headed by Song Doo-hwan revealed right before the end of its investigation that Lee Ik-chi, former chairman of Hyundai Securities, handed over certificates of deposit worth W15 billion to former Culture Minister Park Jie-won in April 2000 at the Seoul Plaza Hotel. The special prosecutor's team found the connecting account, which could prove that the W15 billion was laundered through the debenture trading market and flew into the political and official world. However, the investigation was halted when its designated term expired.
Recently, the prosecutors office banned 10 officials implicated in the scandal from leaving the country, including Hyundai Asan Chairman Chung Mong-hun and the former secretary of Park. It also demanded that the president of Hynix Electronics Park Jong-sup and two other officials who are currently traveling abroad notify the authorities when they return to Korea. Further exit prohibitions are being examined for several related officials.
(Park Se-yong, se@chosun.com )
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