Ho-seong was team captain in 1999 and 2000 and became president of the league's players union in 2001.
He was unable to pay the money back, and police speculated that this was the motive of the killings.
Police said their details about the case were still sketchy because there was no suicide note, but Lee was seen on security video removing four large black duffel bags from the woman's apartment late one evening.
He was also put at the scene by a witness who saw him in the parking lot about the time that the woman and her daughters went missing.
This biographical article relating to a South Korean baseball figure is a stub.