On the 17th, at Incheon International Airport, an investigative search warrant was executed, and a mobile phone was seized. It has been confirmed that prosecutors investigating the ‘Homeplus short-term bond incident’ have placed a travel ban on Kim Byung-joo, the chairman of MBK Partners, who is identified as a key figure in the case.
According to legal circles on the 19th, the Anti-Corruption Investigation Division 3 of the Seoul Central District Prosecutors’ Office recently banned Kim, a U.S. citizen, from leaving the country through the Ministry of Justice. Since the case came to light, Kim had been staying overseas.
Under the Immigration Control Act, the Minister of Justice can prohibit a foreigner from leaving the country if it is deemed inappropriate for criminal investigation purposes. It is reported that the prosecution took this action, believing that if Kim were to leave the country again, it could hinder the investigation.
Previously, on the 17th, the prosecution executed a search warrant during Kim’s entry from London to Incheon International Airport, securing Kim’s mobile phone and other items.
The prosecution is investigating whether Homeplus and MBK Partners issued short-term bonds and passed the losses onto investors while knowing that the company’s credit rating might be downgraded, yet failed to disclose this information externally. They are particularly focusing on whether they were aware of the potential downgrade before February 25th, when Homeplus first received downgrade notification from a credit rating agency.
On the 28th of last month, the prosecution expanded its investigation by conducting raids on the residences of Chairman Kim, Vice Chairman Kim Kwang-il, who is also a co-CEO of Homeplus, and CEO Cho Ju-yeon, as well as MBK Partners’ headquarters.
The prosecution plans to summon key management figures, including Chairman Kim, Vice Chairman Kim, and CEO Cho, as suspects for questioning as soon as the analysis of the seized materials is completed.