Suicide Speaks Again

The prosecution discovered Monday another document left by Jang Rae-chan, a director at the Financial Supervisory Service who killed himself last week. The document, found at the inn where he allegedly killed himself, was mainly about how he acquired stocks. The prosecution announced that the document accounted for the 700 million won ($620,000) investigators had been searching for since Mr. Jang's death. Chung Hyun-joon, president of Korea Digital Line and a key figure in the scandal, asserted from the beginning of the investigation that he and others gave bribes to the late Mr. Jang, but no one knew where the money went.

The document states that Mr. Jang received 700 million won from Yoo Jo-ung, president of Dongbang Mutual Savings and Finance, in compensation for losses he incurred investing in the stock market. Mr. Jang then laundered the money and sent it to his relatives' bank accounts, the prosecution said.

Mr. Jang had previously testified that he bought Pyungchang Information and Communications shares at a discounted price and sold them at the market value, pocketing the 700 million won in profit. He said that he gave the money to the wife of his former boss and that she asked Mr. Yoo for compensation should she lose money on her investment.

by Kim KI-chan