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80
sun Park; and whether there were illegal loan transactions between the bank and
the purchasers. It did so by attempting to discover the source of the funds used
and the reasons for purchasing the stock.
The Diplomat National Bank of Washington, D.C. opened on December 15,
1975. It was organized by Asian-Americans and other persons interested in the
Asian-American community; the chairman was Charles Kim, a naturalized
American of Korean origin. Initial authorized capitalization was $2 million.
572
One of the stipulations contained in the bank's offering circular was a
requirement by the Controller of the Currency that no individual have an interest
in more than 5 percent of the total authorized stock; this put a limit of $100,000
on individual stock purchases.
During the summer of 1975, when Charles Kim was soliciting stock
subscriptions, Jhoon Rhee,
573
a member of the bank's organizing committee,
suggested approaching Pak Bo Hi to invest in the bank and to find others who
might also be interested. Either Pak or Rhee suggested Moon. Pak arranged a
meeting at Moon's residence in Tarrytown, N.Y., attended by Charles Kim, Jhoon
Rhee, and Raymond Gilkerson, a businesman with banking experience whose
son-in-law was prominent in the Moon Organization.
574
Moon was
noncommittal, but later purchased $80,000 of stock--to serve, as he said, the
Asian-American community.
575
In September 1975, Pak Bo Hi himself purchased $75,000 of stock, paying
with a check made possible by cash he had earlier deposited to his account in a
circuitous manner. He also provided his housekeeper, Kum Hee Kwak, with the
cash to purchase $18,100 of stock. Subsequently he provided $738,000 in cash
for stock purchases by 13 Unification Church members.
576
Other Moon-affiliated
persons who purchased stock were Neil Salonen ($30,000), Takeru Kamiyama
($75,000), and Jhoon Rhee ($100,000). (577)
In addition Pak loaned $100,000 to DNB Chairman Charles Kim to finance
Kim's purchase of stock in the bank. This money was also given in cash. Pak
also facilitated DNB stock purchases for Gisela Rodriguez and Judith LeJeune,
employees of the KCFF.
Pak said he had obtained the $100,000 in cash he loaned Charles Kim from
the "Unification Church Pension Fund International" (despite the fact that Kim
was not a UC member). Gisela Rodriguez told the subcommittee staff that Pak
had arranged a bank loan for her investment (he co-signed the bank note) and
instructed her to pay interest on the bank loan by taking money from cash
contributions to KCFF. The loan transaction thus disguised the real source of the
funds, which was KCFF. When Rodriguez sold her stock in the wake of adverse
publicity about the bank's links to Tongsun Park and the Unification Church, she
repaid the balance of the bank loan and returned the rest of the proceeds of the
stock-sale to
378
KCFF. Pak told her that Judith LeJeune would have to follow the same
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