More Arrest Warrants Sought in Lone Star Case
Prosecutors investigating the 2003 takeover of Korea Exchange Bank by U.S. equity fund Lone Star are seeking arrest warrants for top government officials.
The Supreme Public Prosecutors' Office says it will file for request arrest warrants against two or three government officials next week.
Among them is the former head of the Finance Ministry's financial policy bureau, Byun Yang-ho, who was in charge of overseeing Lone Star's controversial purchase of the Korean lender.
They are charged with using their authority to pave the way for the U.S. fund to buy the KEB at a fire sale price.
In the meantime, the prosecution says it's in the final stage of investigations into a Korean lawyer charged with illegally lobbying government regulatory officials on behalf of Lone Star.
The prosecution also plans to indict the head of Lone Star's Korea office, Yoo Hoe-won, on charges of tax evasion and breach of trust regardless of whether the court grants an arrest warrant against him.
The court earlier rejected the proscution's request for arrest warrants for three Lone Star managers, including Yoo.
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