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The prosecution, which is investigating the unsettled sale of Timon and WeMakePrice (TimePrice), requested arrest warrants for three people, including Q10 Group CEO Koo Young-bae, WeMakePrice CEO Ryu Hwa-hyun, and Timon CEO Ryu Gwang-jin.
The Seoul Central District Prosecutors’ Office’s dedicated investigation team (team leader Lee Jun-dong, 1st anti-corruption department chief prosecutor) announced on the 4th that it had requested arrest warrants for them on charges of violating the Act on Aggravated Punishment for Specific Economic Crimes (fraud, embezzlement, and breach of trust). The prosecution explained, “This was a comprehensive consideration of the seriousness of the case, the possibility of destruction of evidence, and concerns about flight.”
Representative Koo and others are suspected of defrauding settlement payments, including the sale of goods worth 1.595 trillion won, in connection with the Timeef incident. In addition, he is also suspected of embezzling a total of 69.2 billion won in funds from Timon and WeMakePrice by transferring work to affiliates, and embezzling a total of 67.1 billion won in funds from Timon and WeMakePrice by paying for the acquisition of an American e-commerce company.
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Jo Hye-sun, Donga.com reporter [email protected]
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2024-10-05 04:29:02