Police Investigate Son Tae-seung's Brother-in-law's 3 Billion Loan Fraud Suspicion

It was belatedly known that Kim, the brother-in-law of former Woori Financial Group Chairman Sohn Tae-seung, who is suspected of unfair loans, was accused of fraud related to loans worth 3 billion won.

Gwanak Police Station in Seoul is investigating a complaint in May that Kim did not repay the money after borrowing it.

Kim is accused of receiving about 3 billion won from his acquaintance Yoon in November 2021 and not returning 2 billion won.

Kim was found to have borrowed from Woori Bank based on 2 billion won worth of apartment collateral from Yoon to invest in a specific company at the time and did not return the amount equivalent to the collateral to Yoon.

Earlier in September, Kim was arrested and charged with misappropriating company funds in the name of his wife and other family members and taking out excessive loans by inflating the acquisition price in the process of purchasing real estate through the company.

Kim was also further indicted on charges of arranging bank loans to third parties and pocketing about 1 billion won in fees, showing off his relationship with former chairman Sohn on the 10th.