Prosecutors investigating the so-called "Homeplus incident" have summoned a financial executive from MBK Partners for questioning, marking the first such summons since the case was reassigned.
On June 24, the Seoul Central District Prosecutors' Office's Anti-Corruption Investigation Division 2, led by Chief Prosecutor Lee Sang-hyuk, questioned the financial executive, identified only as A, as a suspect.
Reports indicate that prosecutors focused on the issuance process and circumstances surrounding Homeplus's asset-backed short-term bonds during the interrogation of A.
Previously, in May, prosecutors investigated corporate investors affiliated with the emergency response committee for victims of the short-term bonds. Following the recent questioning, MBK executives are expected to be summoned in succession.
Prosecutors believe that MBK executives, as major shareholders of Homeplus, issued a large amount of short-term bonds while aware of the company's declining credit rating, subsequently filing for corporate rehabilitation and causing losses to investors.
According to prosecutors, Homeplus issued short-term bonds on February 25, 2022, before receiving its first notification of a credit rating downgrade, which they allege was an attempt by MBK to shift losses onto investors.
In response, prosecutors conducted searches at the Homeplus headquarters, MBK headquarters, and the residences of key figures, including Chairman Kim Byung-joo, Vice Chairman Kim Kwang-il, and Homeplus CEO Cho Joo-yeon, in April of last year. In December, they interrogated Chairman Kim and Vice Chairman Kim as suspects.
On January 7 of this year, prosecutors sought arrest warrants for Chairman Kim, Vice Chairman Kim, MBK Partners Vice President Kim Jung-hwan, and MBK Partners Executive Director Lee Sung-jin on charges of violating the Specific Economic Crimes Act (fraud) and the Capital Markets Act, but the requests were denied.
The investigation has shown little progress, leading to a reassignment from the Anti-Corruption Investigation Division 3 to Division 2 in February of this year.
* This article has been translated by AI.
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