 |
 |
 |
 |
|
 |
 |
89
actual owner of the funds used to purchase the bank stock. If so, the Moon
Organization, in addition to violating the Diplomat National Bank's 5-percent
limitation, may have violated banking laws which prohibit an organization or
"holding company" from owning more than 25 percent of the stock in an
American bank.
613
The Korean Government, particularly the KCIA, participated in the
establishment and operation of the Diplomat National Bank. The KCIA station
chief in Washington, Kim Yung Hwan, was in frequent contact with Charles Kim
beginning in the summer of 1975. It was Kim Yung Hwan who negotiated the
opening of an account for the Korean Embassy; likewise Kim Yung Hwan helped
Charles Kim make arrangements to go to Seoul, shortly after the
386
bank opened, to establish a correspondent relationship with Korean banks. Kim
met with the KCIA Director in Seoul, and the KCIA apparently smoothed the way
for him to meet the appropriate banking officials in the Government. Kim worked
through the KCIA because "it is customary that no business can be done unless
the Government opens the door for you * * * ."(614)
The subcommittee found no evidence that money of the Korean Government
helped finance initial investments in the bank. However, the government may
have provided the $50,000 later invested by
Choi Che Yung, who bought stock sold back to the bank by Duk Moon Aum. He
used some of the funds Yang Doo Won sent to the KCIA in Washington with
instructions that it be given to Choi. The money, according to Choi and Kim Sang
Keun, could have been Yang's private funds, which he--perhaps along with
others--sought to invest in the United States. Choi told subcommittee staff that he
invested the money in the Diplomat National Bank without Yang's knowledge.
Although the subcommittee could not interview Yang and had no evidence to
contradict Choi's statement, it should be noted that Choi's company had business
dealings with the KCIA during this period and that Choi once told Charles Kim
that the money to buy the bank stock came from a research contract with the
Korean Government. Moreover, the purchase of stock with Yang's money
occurred only a few months after Yang and Charles Kim had discussed the
Diplomat National Bank during Kim's trip to Korea. Taking all of these factors into
consideration, the subcommittee could not dismiss the possibility that the
$50,000 invested by Choi was KCIA money, although it is more probable that
Yang Doo Won regarded the money as his own.
There was no evidence that the money invested by Tongsun Park came from
Korean Government sources, although it is noteworthy that at the time he made
the investment, Park was acting as a KCIA agent in other respects.
615
Likewise,
there was no evidence that the funds invested in the bank by the Moon
Organization came from the Korean Government.
Until the true source of the cash used in these purchases is documented and
it is known how the cash was brought into the United States, it will not be
possible to make a definitive statement about whether or not the Moon
|
 |
|