SEOUL-- Prosecutors on Tuesday indicted a former opposition lawmaker accused of accepting bribes in the form of severance pay for his son from an asset firm at the center of a massive development corruption scandal.
The Seoul Central District Prosecutors Office indicted Kwak Sang-do, former lawmaker of the main opposition People Power Party, on three counts of charges, including bribery and violation of the Public Fund Act, in the case surrounding the 2015 Daejang-dong district development project in the city of Seongnam, south of Seoul.
Kwak is alleged to have received 5 billion won (US$4.17 million) of graft from Hwacheon Daeyu Asset Management, a previously unheard-of asset firm responsible for the project, in the name of severance pay for his son, who had worked at the company for about six years.
He was allegedly help the asset firm form a consortium with KEB-Hana Bank for the project.
Prosecutors also suspect that Kwak received 50 million won as illegal political funds from Nam Wook, a partner and a key figure in the development project, in April 2016 near the time of the 20th National Assembly general election.
The corruption scandal has received intense media coverage as the project was carried out when Lee Jae-myung, presidential candidate of the ruling Democratic Party, was mayor of Seongnam. Kwak gave up his parliamentary seat last year following allegations of his involvement in the scandal.
Source: Yonhap News Agency