Prosecutors Discover Additional Slush Funds Stashed Away by DAS

Write : 2018-02-12 16:46:19 Update : 2018-02-12 16:54:08

Prosecutors Discover Additional Slush Funds Stashed Away by DAS

The prosecution's probe into local auto-parts firm DAS has discovered the company raised more slush funds than the 12 billion won that was initially believed to have been stashed.

The Seoul Eastern District Prosecutors' Office told reporters on Monday that inspectors are currently tracking the flow of illegal funds and that the latest discovery of the additional money could expand the statute of limitations for charges that DAS created slush funds.

The prosecutors' remarks suggest that DAS raised the additional funds after October 2017 as the statute of limitations for the charges regarding the 12 billion won of funds, which was first unveiled back in 2008, ended late last year.

Prosecutors believe the additional funds were systematically created by the company, whose real owner is suspected to be former President Lee Myung-bak. 

They have, so far, booked former DAS CEO Kim Sung-woo, an executive director surnamed Kwon and a female accounting employee on charges of organizing the fund. 

The prosecution team said the investigation into the nature of the 12 billion won fund is in the final stage.

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