Kim Ye-seong, an associate of former first lady Kim Keon Hee, is seen in this undated file photo. (Image courtesy of Yonhap)
SEOUL, Aug. 29 (Korea Bizwire) — A special counsel team said Friday it has indicted an associate of former first lady Kim Keon Hee under detention on charges of embezzlement.
Known as the “butler” of the former first lady’s family, Kim Ye-seong’s indictment came after he was placed under arrest earlier this month on charges of embezzling 3.38 billion won (US$2.4 million) from IMS Mobility — a company he helped establish.
Special counsel Min Joong-ki’s team has been investigating allegations that IMS Mobility unfairly received 18.4 billion won in investments from several companies, including Kakao Mobility Corp., through a private equity firm in 2023.
Min’s team suspects the investments were made in consideration of the company’s connection to Kim and the former first lady. They believe that Kim funneled some of the investment into another company he is suspected to have effectively controlled.
Min’s team is looking into allegations that the embezzled funds or other profits may have possibly flowed to the former first lady’s family.
The team also filed for arrest warrants against Jo Young-tak, head of IMS Mobility, and Min Kyung-min, CEO of the private equity firm Oasis Equity Partners, in connection to the case.
(Yonhap)
