South Korean Officials Arrests Former Korea Exchange Bank Chief, Authorize Extradition for Lone Star Officials, and Indict Both Companies

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Monday, January 1, 2007
Author: 
Bruce Zagaris
Volume: 
23
Issue: 
1
Abstract: 

 

On November 7, 2006, Korean officials arrested the former chief of Korea Exchange Bank (KEB), and on November 16, 2006, a Seoul court issued warrants for the arrest of two high-level officials of Lone Star – raising the stakes in the longstanding criminal investigation of the acquisition by Lone Star of KEB.2  Finally, on November 20, 2006, South Korean prosecutors file stock manipulation charges against both Lone Star and KEB.3


                2              Song Jung-a and Anna Fifield, Fin. Times, Nov. 17-18, 2006, at 15, col. 1.

                3              Song Jung-a and Anna Fifield, Seoul Indicts Lone Star and KEB, Fin Times, Nov. 21, 2006, at 23.