FACTBOX: A look at probe of South Korea presidential frontrunner
(Reuters) - If the front-runner Lee Myung-bak wins South Korea's presidential election on Wednesday, he will become the first president-elect to face a criminal probe.
The following is a brief look at the investigation into allegations that Lee was involved with BBK, a firm suspected of defrauding investors of millions of dollars:
WHAT IS BBK AND WHAT IS IT SUSPECTED OF DOING?
BBK, established in 1999, was a U.S.-based investment company that prosecutors said manipulated stocks. Local media said about 5,000 investors lost 60 billion won ($63.77 million). One of the founders of the company, Kim Kyung-joon, has been arrested and indicted on charges of fraud and embezzlement.
WHAT IS LEE'S SUSPECTED INVOLVEMENT?
The ruling United New Democratic Party on Sunday disclosed a video clip of Lee saying he established BBK. Lee has denied any wrongdoing and prosecutors cleared him on December 5 of involvement in criminal activity.
Parliament has approved a bill to allow an independent counsel to re-open the BBK investigation. It will also look into allegations that politics played a role in ending the initial probe and, separately, investigate charges that Lee maybe concealing his wealth.
WHAT ARE THE KEY DATES?
Outgoing President Roh Moo-hyun will name a special investigator at the start of the new year. The investigation starts in mid-January and is expected to be wrapped up around, or after, the February 25 presidential inauguration.
WHAT ARE THE IMPLICATIONS?
As president-elect, Lee can be questioned and indicted.
But after the new president is inaugurated, that person cannot be prosecuted while in office for crimes other then rebellion or certain violations of international law.
Analysts said Lee's rivals will use the scandal in the campaign ahead of the April parliamentary election.
They say that if Lee is found to have had a hand in illegal activities, it would undermine his presidency.
(Reporting by Jessica Kim; Editing by Grant McCool)
