[단독]檢 understands the circumstances of Q10 stealing 5.2 billion in loans between WeMakePrice and Timon.

[단독]檢 understands the circumstances of Q10 stealing 5.2 billion in loans between WeMakePrice and Timon… Focus on proving the former CEO’s charges of breach of trust

Prosecutor’s Office logo. News 1

It was found that the prosecution, which is investigating the large-scale unsettlement situation of Timon and WeMakePrice (TimePrice), investigated Q10 Group CEO Koo Young-bae for the first time on the 30th of last month and secured additional circumstances that raise suspicions about CEO Koo’s breach of trust. The prosecution plans to summon CEO Koo again for questioning as early as this week.

According to Dong-A Ilbo’s coverage on the 1st, the Seoul Central District Prosecutors’ Office’s dedicated investigation team (team leader Lee Jun-dong, 1st anti-corruption investigation chief prosecutor) believes that the parent company Q10, not Timon, stole and used the 5.2 billion won in loans WeMakePrice lent to Timon in May of this year. When Q10 took the sales settlement amount from Timon, it took additional money from Timon’s loan of 5.2 billion won by dividing it into small units such as 500 million won. Timon CEO Ryu Gwang-jin is said to have stated that he found out about the existence of such loans after the investigation began. Even though it took money from another company, it is known that Q10 did not write a separate letter of acceptance or receive approval. The prosecution is conducting an investigation, believing that if Q10 stole money from its affiliates and used it for the Q10 group, it could be one of the grounds for charges of breach of trust and embezzlement against CEO Koo.

The prosecution also determined that the amount of money that Geosys (Q10 Tech), Q10, WeMakePrice, and Interpark Commerce borrowed from Timon in the form of loans but have not yet repaid amounts to 12.6 billion won. The prosecution is investigating this act as a situation in which affiliates borrow money from each other to make up for the sales proceeds. It was confirmed that many of the loans were either not paid for by the payment authority of each affiliate or were paid after the fact. It is known that among the loans that were not returned, there is 1.8 billion won that Q10 used as funds to acquire the overseas shopping mall ‘Wish’.

Meanwhile, the prosecution summoned CEO Koo the day before and asked him about △ the circumstances in which sales settlement proceeds from affiliates were used to acquire Wish, an online shopping mall based in North America and Europe △ the reason for transferring and integrating the financial teams of each affiliate to Q10 Technology, a subsidiary △ the settlement proceeds from stores. An all-round investigation was conducted regarding the Timef incident, including whether or not there was a fund-blocking operation to raise funds and the extent of CEO Koo’s involvement in the process. Despite the intensive investigation that lasted until late this evening, the prosecution plans to further investigate CEO Koo as early as the 2nd.

In an emergency inquiry at the National Assembly in July, CEO Koo made a statement to the effect that “I am not familiar with the group’s financial management.” However, the prosecution is confirming the authenticity of the remarks by obtaining a number of emails in which CEO Koo gave detailed instructions to company executives on financial-related tasks. CEO Koo is also suspected of ordering affiliates to sell products with reverse margins, managing the corporate seals of affiliates, and receiving billions of won in fees from Timeef every year. The prosecution alleged that Q10 spent approximately 50 billion won from the sales settlement proceeds from Timon and WeMakePrice to acquire Wish, and that it caused damage to the stores by engaging in back-and-forth business even in a situation where sales proceeds could not be paid normally. I’m watching. The amount of fraud identified so far by the investigation team is 1.4 trillion won, and the amount of embezzlement is 50 billion won.

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Reporter Choi Mi-song [email protected]

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2024-10-02 11:16:38