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The Seoul Central District Prosecutors' Office is likely to clear Grand National Party presidential candidate Lee Myung-bak of involvement in the stock price manipulation of a firm called Optional Ventures Korea, it emerged on Sunday. The firm was run by Lee's former business partner Kim Kyung-joon (41), the prime suspect in the scam.
Since Kim was extradited to Seoul on Nov. 16, prosecutors have focused on a criminal complaint filed by the United New Democratic Party against the GNP candidate for suspected involvement in the scam. But prosecutors have reportedly found no evidence corroborating the charge. They are also about to wrap up their investigation of Lee's relationship with DAS, a firm ostensibly owned by his brother and brother-in-law that was heavily invested in an earlier venture of Kim's called BBK. But investigators have also apparently found no evidence that Lee is the actual owner of DAS.
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Members of conservative groups and supporters of Grand National Party presidential candidate Lee Myung-bak hold a candlelight vigil calling for a fair investigation of the BBK scandal in front of the Seoul Central District Prosecutors' Office in Seocho-dong, Seoul on Sunday evening. /Newsis
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They are, however, stil chasing the paper trail of the W19 billion DAS had invested in BBK in 2000, which Kim Kyung-joon has claimed was Lee Myung-bak's money. In fact, Kim says, all the firms in the complex scandal -- BBK, LKe-Bank and EBK Stock Brokerage -- belonged to Lee. Prosecutors will announce their findings Tuesday or on Wednesday, the initial deadline for Kim's detention. A senior prosecutor said the investigation is "80 to 90 percent complete. We are both conducting the final-stage investigation and drafting the announcement at the same time." Once that is done, Kim will likely be charged with manipulating the stock price of Optional Ventures to persuade investors to put their money into it and embezzling W38.4 billion from their investment.
(englishnews@chosun.com )
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