Police have raided the offices of Rep. Lee Choon-suak, who quit the Democratic Party last week amid allegations that he traded stocks under someone else’s name and engaged in insider trading.
Investigators initiated the search of Lee’s offices at the National Assembly around 10:20 a.m. on Monday.
They also raided his offices and residence in his constituency of Iksan, North Jeolla Province.
The four-term lawmaker came under fire on Tuesday last week, after a local media outlet published a photo allegedly showing him trading stocks under his aide’s name on a mobile phone during a plenary session the previous day.
Lee quit the Democratic Party late Tuesday, hours after party leader Jung Chung-rae announced that the party will take steps to expel him.
The opposition People Power Party has slammed Lee’s actions as conflict of interest as he apparently traded in shares related to artificial intelligence(AI), despite his position on the administration’s State Affairs Planning Committee handling AI policy.