South Korean state prosecutors on Monday charged the elder brother of former President Roh Moo-Hyun with accepting more than two million dollars in bribes during his sibling's term in office. Roh Gun-Pyeong, 66, was charged with taking 2.96 billion won (2.27 million dollars) for helping arrange the take-over of a brokerage in 2006.
Prosecutors say he colluded with local lobbyists to press the state-run National Agricultural Co-operative Federation, or Nonghyup, to acquire the ailing Sejong Securities. Nonghyup bought Sejong for 110 billion won in July 2006.
Former and incumbent executives of Nonghyup and Sejong were also indicted, prosecutors said. They said Roh Gun-Pyeong was also under investigation for alleged tax evasion and embezzlement while running his civil engineering firm. He has denied the charges.
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