Korean Court Mulls Arrest Of Ex-Official

Law360, New York (November 28, 2006, 12:00 AM EST) -- Korean prosecutors tried for the second time Monday to get a warrant to arrest a former finance ministry official they allege conspired to lower Korea Exchange Bank’s value before Lone Star Funds purchased it for $1.2 billion.

Byeon Yang Ho, who headed the ministry’s financial policy bureau, has been accused of conspiring to overstate KEB’s financial problems to lower its value and allow Lone Star to purchase it at far less than market price.

The Seoul Central District Court said it plans to hold a hearing...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.