South Korea Charges Ex-Envoy For Cameroon Diamond Mine Fraud

GIASouth Korea’s former ambassador of natural resources is being charged with a litany of crimes, including abuse of powers, forgery of documents, and international provision of false conclusions about a mine in the African country, according to a report by the Web-based Journalducameroun.

According to the report, prosecutors in Seoul believe that Kim Eun-Sok played a key role in a fraud that was perpetrated in order to obtain profits on the stock market.
Eun-Sok is accused of falsely providing an exaggerated assessment of the potential of the Mobilong diamond mine, whose development license was awarded to CNK International, a South Korean company.

After he estimated that the mine contained reserves of 420 million carats of diamonds, the value of CNK shares, which some of his family members had bought earlier, skyrocketed. It was only after the real potential of the mine had been discovered that the values dropped.

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