Prosecutors conclude no charges in suspicion over disposal of ribbon bands on bundled cash
Conclusion of no charges in the suspicion over disposal of ribbon bands on bundled cash, summary of the prosecution’s investigation results and key issues Quickly check whether evidence was damaged or concealed, and see the course of the case at a glance
The prosecution has concluded that there are no charges in the socalled “Kwanbongwon band disposal allegation” case.
The Seoul Southern District Prosecutors’ Office said on the 5th that after reviewing the related case handed over by the standing special counsel team, it found no evidence to support the claim that the evidence custodian and others intentionally damaged or discarded Kwanbongwon packaging materials or bands, or that they systematically concealed evidence.
This allegation began in December 2024, when the Seoul Southern District Prosecutors’ Office searched the home of Jeon Seongbae and secured 50 million won in Bank of Korea Kwanbongwon cash, after concerns were raised that the bands and stickers that could verify the source of the funds had disappeared during storage. The special counsel explained that while there had been poor management in the process of receiving, handing over, and storing evidence, it found no signs of any instruction to dispose of or conceal it.