A suspect in a massive financial fraud scandal involving Lime Asset Management has cut off his ankle monitor and fled.

The Seoul Southern District Prosecutor's Office said the former chairman of Star Mobility, Kim Bong-hyun, broke free from the electronic tagger near Paldang Bridge in Hannam, Gyeonggi Province on Friday.

Kim’s escape at 1:30 p.m. preceded his final court hearing at 3 p.m. on charges of extorting tens of billions of won from his fund as well as from a Suwon-based bus operator to finance bribes for politicians and prosecutors.

He was prosecuted in May 2020 and released on bail in July of last year on the condition that he wear an ankle monitor, pay a deposit of 300 million won and not contact witnesses or other figures related to the case.