S Korea to probe president-elect | News | Al Jazeera

S Korea to probe president-elect

Court sanctions investigation into fraud allegations against Lee Myung-bak.

    Lee cannot be prosecuted after his inauguration
    on February 25 [GALLO/GETTY]

    The former Seoul mayor and business tycoon secured a landslide victory in last month's presidential election and promised to revive the country's economy.

     

    Lee is the first South Korean president-elect to face a criminal investigation.

     

    'Rigging stock prices'

     

    Prosecutors cleared Lee after they could not find any evidence that he conspired with a Korean-American fund manager in 2001 to manipulate stock prices.

     

    The case was re-opened after a video clip widely circulated on the internet purportedly showed Lee admitting to establishing the fraud-ridden asset management company.

     

    Kim Kyung Joon, the head of the controversial investment firm BBK, and Lee's business associate in a previous venture, was indicted on December 5 on charges of rigging share prices and embezzling tens of millions of dollars from the company.

    SOURCE: Agencies


    YOU MIGHT ALSO LIKE

    Interactive: Coding like a girl

    Interactive: Coding like a girl

    What obstacles do young women in technology have to overcome to achieve their dreams? Play this retro game to find out.

    The State of Lebanon

    The State of Lebanon

    Amid deepening regional rivalries what does the future hold for Lebanon's long established political dynasties?

    Exploited, hated, killed: The lives of African fruit pickers

    Exploited, hated, killed: Italy's African fruit pickers

    Thousands of Africans pick fruit and vegetables for a pittance as supermarkets profit, and face violent abuse.