Independent lawmaker Kang Yong-seok on Monday filed a complaint to the prosecution against software entrepreneur-turned-professor Ahn Cheol-soo, claiming that he embezzled company funds and evaded taxes.
This is the third time the serial-complainant has accused Ahn, who is frequently spoken of as a potential candidate for president in December.
Kang filed the complaint with the Seoul Central Prosecutors’ Office, saying that he acquired a total of 1.46 million bonds with warrant of AhnLab, the computer software company that he founded, at a price of 1,710 ($1.5) per share on Oct. 12, 2000, but that they were traded for 30,000-50,000 won per share over the counter.
“Ahn bought the shares at one-25th of the normal price. The company was listed in October 2011 and Ahn has managed to bag up to 70 billion won,” Kang claimed. He said the 1.8 million shares of Ahn Lab that Ahn has recently donated to his charity foundation include the irregular property.
Kang, a former civic activist serving as a watchdog against illegal wealth transfers by business tycoons, alleged that Ahn’s purchase was a classic case of BW fraud.
BW entitles the purchaser to a certain number of shares of the borrowing company for a certain period at a price fixed in advance abusing bonds with warrant. Businessmen have taken advantage of the system by buying the BW of an unlisted company at a low price and waiting until the company is listed and reaping the profits.
“What Ahn did was a felony. Samsung chairman Lee Kun-hee was handed a three-year jail term suspended for five years and an additional 110 billion won fine for plotting the same plan for Samsung SDS stock in 1999,” Kang said. “At that time, Lee was charged for buying the company BW for half the expected price. Ahn’s felony is even graver,” he claimed.
Kang said he will also file complaints against 125 staff workers of Ahn Lab, who received a total of 80,000 shares from Ahn on Oct. 12, 2000.
“No one paid gift taxes. I am gathering the names of the receivers. When the list is complete, they will be added to the complaint,” he said.
Kang has already filed complaints against Ahn twice for allegedly using a false address and inappropriate real estate speculations.
Kang, who once was a prominent lawmaker of the ruling party, fell out of favor when he made remarks about TV newsreaders, saying they have to provide sexual favors to influential people.
He was ousted by the party but has remained in the headlines for making complaints. He appeared on a talk show last month and joked he has a motto of “filing a suit or complaint every day.”
