A sentencing for the convicted chairman of one of the country’s largest conglomerates, SK Group, in an appeals trial has been postponed to Sept. 13, court officials said Wednesday.

Chey Tae-won, 53, is currently undergoing appeals after being sentenced to four years behind bars by a lower court in January for embezzling nearly 50 billion won ($45 million) in company funds to make personal investments in stock futures and options.

The Seoul High Court had originally planned to deliver the verdict on Friday. “More time is needed to review the relevant records and to draw up the sentencing,” said the court officials of the reason for the postponement.

The court officials, however, did not comment further regarding whether there will be additional hearings to question a mysterious key figure in the case who was recently arrested in Taiwan. (Yonhap News)