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[Alpha Biz=(Chicago) Reporter Paul Lee] Police investigating the alleged creation of slush funds by Hangeul and Computer Group Chairman Kim Sang-chul have sought an arrest warrant for Kim's second son.
According to the anti-corruption and economic crime investigation team of the Gyeonggi Nambu Provincial Police Agency on the 27th, police recently sought an arrest warrant for Kim's second son, identified only by his surname Kim, and A, the head of a cryptocurrency Arowana token issuer invested by Hancom affiliates, on charges of breach of trust.
Arona and Token are virtual currencies invested in by Hancom affiliate Hancomwith. Suspicions of market price manipulation were raised as it soared 107,500% from the initial price of 50 won to 53,800 won in about 30 minutes when it was listed on April 20, 2021.
Police are looking into suspicions that Arona and Token CEO Chung made slush funds worth about 10 billion won through capital gains and delivered them to Kim's second son at the time. In addition to them, two to three more people, including brokers, have been booked and are investigating.
It is analyzing related data after seizing and searching the chairman's office of Hancom Tower and the offices of its affiliates twice last year and in July.
AlphaBIZ 폴 리(hoondork1977@alphabiz.co.kr)
