Special counsel raids ex-investment firm chief in probe into ex-first lady

A special counsel on Saturday raided the residence of a former chief of an investment firm in a widening investigation into corruption allegations surrounding former first lady Kim Keon Hee, officials said.

Investigators from special counsel Min Joong-ki's team seized a mobile phone during a raid on the home and car of Lee Jong-ho, former head of Blackpearl Invest, in Seongnam, Gyeonggi, according to the officials.

Lee is suspected of violating the Attorney-at-Law Act.

The special counsel has also notified him to appear for questioning Monday.

He has allegedly received 81 million won ($58,000) from a confidant of first lady Kim in return for helping secure a suspended sentence in a stock manipulation case involving Kim.

Lee has reportedly denied the allegations.

He is known to be a key figure in the manipulation of stock prices of Deutsch Motors, a BMW dealer in Korea, between 2009 and 2012 through illegal trading schemes. He was sentenced to a suspended prison term by the Supreme Court in April.

Last week, Lee's residence was also raided by a separate special counsel team investigating alleged political interference in the 2023 death of a young Marine.

Yonhap