Business Crimes: BBK Controversy

The BBK Controversy is a massive financial scandal that occurred in South Korea immediately before the 2007 Presidential elections. The presidential candidate Myungbak Lee was accused as one of the main shareholders of an asset management firm called BBK. BBK had artificially priced the stocks in order for the main shareholders to illicitly gain profits. Although, the Korean National Police Department had announced that the presidential candidate Myungbak Lee was innocent, the dispute over presidential frontrunner Lee Myung-bak's possible link to a financial scam took a new twist yesterday, after his rivals released video footage in which he publicly states that he established the investment fund at the center of the scandal. Despite these immoral deeds, however, presidential candidate Lee was elected as the tenth Korean president for his passion to improve the country's economy.

Link
http://www.asiamedia.ucla.edu/article.asp?parentid=84183
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