South Korean vice president of the International Olympic Committee (IOC) Kim Un-yong, was indicted Thursday on charges of bribery and embezzlement, said the Seoul District Prosecutors’ Office
Kim is also accused of receiving more than $675,000 in bribes from two sporting goods companies and a transportation company.
He has also been charged with embezzlement on suspicions of misappropriating more than 3.8 billion won in public funds of sports organizations he used to chair.
He allegedly received 589 million won in bribes from the former head of Adidas, Kim Hyon-woo, on 13 different occasions from January 1997 to January 2002.
Woo was indicted Thursday on charges of embezzling corporate funds and offering the money in bribes to Kim.
The prosecution found more than 3.7 billion won worth of U.S. currency, Japanese yen and euro stashed away in Kim’s private safes in his house and at a bank, and about 199 jewelry items worth about one billion won.
