Most Popular
-
1
Heavy snow alerts issued in greater Seoul area, Gangwon Province; over 20 cm of snow seen in Seoul
-
2
Seoul blanketed by heaviest Nov. snow, with more expected
-
3
NewJeans to terminate contract with Ador
-
4
Seoul snowfall now third heaviest on record
-
5
Samsung shakes up management, commits to reviving chip business
-
6
Heavy snow of up to 40 cm blankets Seoul for 2nd day
-
7
Hybe consolidates chairman Bang Si-hyuk’s regime with leadership changes
-
8
NewJeans terminates contract with Ador, embarks on new journey
-
9
How $70 funeral wreaths became symbol of protest in S. Korea
-
10
Chaos unfolds as rare November snowstorm grips Korea for 2nd day
The prosecution on Friday filed for an arrest warrant for SK Group vice chairman Chey Jae-won for alleged embezzlement.
According to Seoul Central Prosecutors’ Office, Chey Jae-won, the younger brother of SK chairman Chey Tae-won, is suspected of having orchestrated money-laundry of 49.7 billion won ($43.2 million) out of 280 billion won set aside by 18 affiliates of the group for investment into Benex Investment.
He is suspected of handing it to his elder brother who has allegedly spent as much as 300 billion won in failed stock futures investments.
Prosecutors earlier arrested Kim Joon-hong, head of Benex, for embezzling 100 billion won. The investigators believe that the money was part of SK’s investment and that Kim aided the illegal use of the SK funds.
By Bae Ji-sook (baejisook@heraldcorp.com)
According to Seoul Central Prosecutors’ Office, Chey Jae-won, the younger brother of SK chairman Chey Tae-won, is suspected of having orchestrated money-laundry of 49.7 billion won ($43.2 million) out of 280 billion won set aside by 18 affiliates of the group for investment into Benex Investment.
He is suspected of handing it to his elder brother who has allegedly spent as much as 300 billion won in failed stock futures investments.
Prosecutors earlier arrested Kim Joon-hong, head of Benex, for embezzling 100 billion won. The investigators believe that the money was part of SK’s investment and that Kim aided the illegal use of the SK funds.
By Bae Ji-sook (baejisook@heraldcorp.com)
-
Articles by Korea Herald
