“Kim Kyung-joon Deceived Korea”

The independent counsel headed by special prosecutor Chung Ho-young yesterday cleared President-elect Lee Myung-bak of all allegations including the manipulation of BBK stock prices and embezzlement, the possession of DAS (an auto parts maker) and a plot of land in Dogok-dong under a borrowed name.

Regarding the controversy surrounding the Dogok-dong land under Lee’s brother’s name, the special prosecutor said, “We found that the land belongs to Lee’s brother Sang-eun.” Last year the prosecutors announced “The land seems to be owned by a third party.”

The final result announced on Thursday was of a 38-day investigation that started on Jan. 15 by the independent counsel. On Friday, one day before their investigation term expires, the special prosecutor will report his investigation results to President Roh and the National Assembly in writing.

Assistant special prosecutor Moon Kang-bae told reporters, “(The BBK scandal) in a nutshell is a scam on Korea by Kim Kyung-joon. Korea of course includes Lee Myung-bak.”

As Lee is absolved of all charges as in last year’s probe by the prosecutors, many say the special prosecutor’s investigation was politicized. The Supreme Prosecutors’ Office is expected to start in earnest its probe into charges and accusations of Kim Kyung-joon’s premeditated return to Korea.

Regarding a side agreement written in Korean that Kim brought to Korea, the independent counsel said “We interrogated Kim’s prison mate in L.A., whose surname is Shin. He said he had seen many documents with the same contents produced by Kim. The side agreement is deemed written in the prison.” That means the document was forged in the U.S.

Regarding the allegation that President-elect Lee owned land under the borrowed name, the independent counsel member said, “Lee`s elder brother Sang-eun had a considerable sum of capital in 1995 when he bought the land. After the purchase, Lee Sang-eun and Lee Myung-bak’s brother-in-law were found to have taken care of the land. So we decided that the owner of the land is Lee Sang-eun.”

As to the BBK stock manipulation charge, the independent investigators concluded, “The stock rigging and embezzlement were done only by Kim Kyung-joon and his accomplices. And there is not a shred of evidence that the president-elect was involved in Kim’s crime.”

With respect to Lee’s role in allowing an unqualified firm to purchase land in the Digital Media Center in Sangam-dong, the independent counsel said, “Lee was confirmed to have ordered working-level people to be mindful of the purpose of the project and discreetly carry it out.”

About Kim’s allegation that the prosecutors threatened and appeased him, they said the allegation is false.

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