Ex-Lawmaker Kwak Sang-do Questioned Over Concealing Criminal Proceeds Linked to Seongnam Developer

SEOUL, - Former lawmaker Kwak Sang-do of the ruling People Power Party was summoned for questioning by prosecutors on Wednesday. The scrutiny comes amid allegations that Kwak concealed criminal proceeds related to a development corruption scandal involving a Seongnam-based land developer.

According to a news release by Yonhap News Agency, Kwak was indicted in February of last year on charges of taking 5 billion won (US$3.9 million) from Hwacheon Daeyu Asset Management. The money was ostensibly severance pay and incentives for his son, who was an employee at the developer. However, Kwak was acquitted of these bribery charges by a Seoul court in February of this year.

In response to the acquittal, the prosecutors appealed and have since initiated a new investigation into Kwak. This probe is focused on suspicions that he violated the law governing the concealment of criminal proceeds, specifically in relation to the 5 billion won from Hwacheon Daeyu Asset Management.

During the questioning, prosecutors delved into Kwak's financial relationship with his son, as well as the nature of the 5 billion won that his son received from the Seongnam developer. Reports indicate that prosecutors discovered Kwak had once paid about 30 million won for his son's graduate school tuition, along with a home rental deposit of 20 million won.

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