Seoul Prosecutors on Monday requested a preliminary arrest warrant for Sung Woan - jong , chairman of Keangnam Enterprises , on suspicion of fraud and the embezzlement of company funds . Sung is believed to have fabricated the company ’ s financial status to receive a combined 80 billion won ( $ 73 . 7 million ) in government and private loans , according to Seoul Central District Prosecutors ’ Office . Investigators said his company is responsible for several irregularities , including fraudulent accounting for 950 billion won . The 64 - year - old former lawmaker has also been accused of creating a slush fund worth some 20 billion won via associated companies owned by his wife , who was summoned by prosecutors last Wednesday for questioning . Prosecutors brought in Sung on Friday for an inquiry , during which he claimed he did not know specifics about the finances at his company . Investigators , however , believe that Sung masterminded the entire process . The court is expected reach a decision on Sung ’ s warrant Wednesday . Keangnam Enterprises is just one of the companies currently being investigated in a corruption scandal involving former Lee Myung - bak administration ’ s multibillion dollar project that sought to develop overseas energy resources . Moon Jae - in , leader of the main opposition New Politics Alliance for Democracy , urged the former president Monday to join him in attending the hearing for an investigation into the scandal . The ruling Saenuri Party rejected the call . By Yoon Min - sik ( minsikyoon @ heraldcorp . com ) [ 우리 아이 영어 글쓰기 , 어떻게 교육 하 나요 ] 	 더 많 은 기사 보 러 가 기 → [ 코리아 헤럴드 홈페이지 ] [ 트위터 ] [ 페이스북 ] 	 구독 신청 1588 - 0533 	 <ⓒ KoreaHerald ( www . koreaherald . com ) 무단 전재 및 재 배포 금지 >