November 2, 1995
Web posted at: 5:30 p.m. EST (2230 GMT)
From Seoul Bureau Chief Sohn Jie-Ae
SEOUL, South Korea (CNN) -- Thursday, Roh Tae-Woo made a trip no other former South Korean president ever has made. He was called into the federal prosecutor's office to face 16 hours of questioning about a $653 million secret slush fund created during his five years in office.
Depending on the outcome of the investigation, the former president, who served from 1988 to 1993, also could make history by being charged with crimes such as accepting bribes, extortion and embezzlement.
Although Roh has not been charged, he seems already to have been tried and convicted in the streets of Seoul. Office workers, environmentalists and students protested, calling for a fair investigation and strict punishment for the former president. Authorities expect the demonstrations could become larger and possibly turn violent as the case progresses.
Economic repercussions from the scandal were felt almost immediately on the Seoul stock market. Stock prices plummeted, especially those of companies suspected of contributing to Roh or hiding illegal funds.
South Korea's current president, Kim Young Sam, has firmly denied he has received or knows anything about slush money. But opposition politicians are demanding prosecutors probe any financial connection between Roh and his successor.
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