Seoul: A key figure in a stock price manipulation case allegedly involving former first lady Kim Keon Hee was arrested Tuesday, a day before Kim is scheduled to be questioned in connection with the case. The arrest of Lee Jong-ho, former head of Blackpearl Invest, came after the Seoul Central District Court issued a warrant for his arrest, citing concerns over potential destruction of evidence.
According to Yonhap News Agency, Lee is considered a key figure in a stock manipulation case involving Deutsche Motors, a BMW dealer in South Korea, currently under investigation by a special counsel probing Kim. Lee handled Kim's stock accounts allegedly used in the manipulation, which took place between 2009 and 2012.
The special counsel team sought the warrant against Lee on charges of allegedly promising to use his alleged ties to Kim to help another individual involved in the manipulation case receive a reduced sentence between 2022 and 2023 in return for financial rewards. Lee is also deeply involved in other allegations against Kim, including alleged stock manipulation targeting Sambu Construction.
The special counsel has summoned the former first lady to appear for questioning over the allegations Wednesday.