Arms dealer cites payment

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Arms dealer cites payment

Kim Yeong-wan, a fugitive arms dealer who is being investigated on money-laundering charges, recently sent the prosecution a statement saying that he delivered a large sum of money from the Hyundai Group to Kwon Roh-kap, former supreme council member of the ruling Millennium Democratic Party, prior to the April 2000 legislative elections, prosecution sources said. The statement was obtained by the JoongAng Ilbo yesterday.
Mr. Kim allegedly laundered bribes and illegal political funds from businesses for politicans. He fled to the United States in March, before these allegations surfaced.
Mr. Kwon, who has been detained on charges of receiving a total of 20 billion won ($12.5 million) in illegal political funds from Hyundai, has denied the charges. The prosecution believes that the 20 billion won was laundered by Mr. Kim and has been urging him to voluntarily return to Korea to cooperate with its investigation of Mr. Kwon’s charges.
According to Mr. Kim’s statement, earlier this year he received a total of 20 billion won in cash from Hyundai. He then himself delivered 25 boxes, each containing 200 million won in cash, to Mr. Kwon’s home, the statement said.
Another 10 billion won was later sent to Mr. Kwon through Mr. Kwon’s aides. With respect to the remaining 5 billion won, Mr. Kim let his own aides use the sum to buy bonds and kept the bonds to be used as political funds by Mr. Kwon in the future.
The prosecution sources said it suspects Mr. Kim laundered other illegal bribes and political funds for politicians, in addition to the 20 billion won he is accused of laundering for Mr. Kwon. They said the prosecution is currently investigating the allegations of additional money-laundering.
Mr. Kim is also suspected of laundering 15 billion won of bribes allegedly given by Hyundai to Park Jie-won, presidential chief of staff in the Kim Dae-jung administration.
Mr. Kwon, however, strongly denied Mr. Kim’s statement, saying he was framed by Mr. Kim, the sources said.


by Kang Joo-an
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