There was a attenuate affectation of supercars in city Seoul Wednesday morning – not in a adorned exhibit but in the parking lot of the Korea Deposit Insurance Corporation.
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Those cars, a Lamborghini Murcielago LP640, Porsche Carrera S, Benz E350, Ferrari 612, and Dodge Magnum, were all bedeviled from now-defunct Gangwon Domin Accumulation Bank, which loaned the money for the cars but had to booty control of them back they couldn’t be repaid.
The bristles were amid 17 supercars begin covered with dust in a bank-owned barn in a Seoul suburb a few months ago. A French Bugatti Vevron and two comfortable cars from Swedish supercar maker Koenigsegg were additionally amid them.
According to the KDIC, the cars were not in a acceptable appearance and some of them weren’t alike appropriately registered. In the case of the Bugatti Vevron, the best big-ticket amid all, added than one being claimed acknowledged ownership.
The bureau said the bristles displayed in the morning are all austere for bargain and will be put up at bargain aural this month. The bargain gain will be acclimated to advice depositors of the collapsed bank.
“There are abounding affidavit abaft the bank’s bankruptcy, but one affair that stands out amid added afflicted accumulation coffer is the CEO’s approximate beheading of accommodation accouterment adjoin those supercars,” said Park Shin-woong, the agency’s defalcation administrator, in a columnist conference this morning. Chae Kyu-chul, CEO of the accumulation bank, was bedevilled to seven years in bastille in February on accuse of aperture of assignment and accouterment actionable loans amounting to 68 billion won (or about $60 million).
“The accommodation administration of the coffer was worse than that of a assurance shop,” Mr. Park said. He added that the CEO didn’t go through a able acknowledged action and loan-related abstracts were stored at his clandestine residence, not the bank.
A absolute of 13 accumulation banks accept been shut bottomward due to anemic banking continuing back beforehand aftermost year and no added cease is expected. But prosecutor’s analysis into the asleep banks is still on-going.
On Tuesday, President Lee Myung-bak’s brother Lee Sang-deuk was summoned by prosecutors on allegations that he accustomed money from a afflicted accumulation coffer in acknowledgment for wielding his influence.
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