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South Korean President’s Brother Arrested over Corruption

in International Business

South Korean President’s Brother Arrested over Corruption

South Korean President Lee Myun-bak’s elder brother has been alleged of taking USD 525, 000 in bribe from the chairmen of two savings banks to help them avoid an audit.

The case is the latest in a series of corruption scandals involving people with ties to South Korea’s president, who ends his five-year term next February.

The depositors who lost money when the savings banks were suspended hurled eggs at him as he arrived in court.

The 76-year-old, who served six terms in parliament, was reportedly taken to a detention centre immediately after the warrant was issued.



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