Huge amount of cash found in home of Kim Un-yong
( 2004-01-11 14:54) (people.com)
The prosecution said Saturday
in Seoul it hadfound and seized a total of 6 billion won (US$5.1 million)worth
of cash and cash equivalents, including foreign currency, inthe house of Kim
Un-yong, South Korea's most influential sports official.
It said there were also gems, including diamonds, and gold in the personal
safe of Kim Un-yong, vice president of the International Olympic Committee
(IOC).
"We are launching an investigation into the origins of the money," said a
prosecution official. The official said Kim will besummoned again next week.
Earlier, the prosecution said it had found 1.7 million dollars in foreign
currency and 4 billion won (US$3.38 million) worthof cash and cash equivalents
at his home, but Kim claimed part of the money was from donations he received
from businessmen to finance his campaign for the IOC presidential election in
2001.
The prosecution is seeking an arrest warrant for the 72-year-old former
chairman of the (South) Korean Olympic Committee (KOC) on suspicions of
accepting over 500 million won (US$423,000) from businessmen in exchange for his
promise to get them KOC membership.
Kim, a former legislator, is also suspected of embezzling billions of won
donated by businesses to his World Taekwondo Federation.
A series of corruption allegations led Kim to announce his resignation from
the National Assembly and the presidency of both the World Taekwondo
Headquarters and the World Taekwondo Federation on Friday.
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