The big news of the week in South Korea was that the leading Presidential Candidate, Myung-Bak Lee, was found innocent of any involvement in the BBK stock manipulation case. They found no evidence that he owned any shareholding in BBK or was involved in any other embezzlement or fraud surrounding that case.
I do not believe any of this at all, of course, and I do not imagine the country of Korea does either. However, the country is happy to have a candidate that will not be surrounded in a grey cloud as elections approach in two weeks.
The most interesting twist to this story is the history of the BBK company. In reality it is an exact replica of the scam they pulled off in the movie Boiler Room. The leader of the scandal even kept a DVD of the movie in his office. Then the leader fled the country, ended up in LA, bought mansions in Beverly Hills, and eventually was extradited back to Korea a couple weeks back.
To be honest, I am a little surprised that Koreans stooped this low. Not that they were corrupt, because the nation is full of corruption, but because they just mimicked a movie plot as their scam. In a country as practiced in corruption as South Korea, you would think they could come up with something a little better and more sophisticated.
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