SK Networks Chairman Shin Shin-won, who is accused of embezzlement or misappropriation of Hoesat-don, is leaving court after completing a warrant deliberation held at the Central District Court in Seocho-gu, Seoul on the afternoon of the 17th. yunhap news
On the 17th, SK Networks Chairman Shin Shin-won, who is accused of embezzlement of large sums of money and betrayal, was arrested.
The Seoul Central District Court, Deputy Judge Won Jeong-sook in charge of warrant, issued an arrest warrant for Chairman Choi on this day. Deputy Judge Won judged, “There are considerable reasons to suspect that Chairman Choi has committed a crime, and there is also a concern that the evidence will be destroyed using his position.” It also acknowledged the need for arrest when considering the scale of the crime and its impact on related companies.
Chairman Choi is accused of embezzlement of money in the process of operating SK Networks, SK Telesys, and SKC, and inflicting damage to the company because it was not properly repaid after borrowing money unsecured to a private business.
In 2018, the prosecution was notified of the suspicious flow of funds surrounding SK Networks by the Financial Information Analysis Agency, and after a long investigation, the charges were caught. On the 15th, the Seoul Central District Prosecutor’s Office of Anti-Corruption Investigation (Director Jun-cheol Jeon) filed a preliminary arrest warrant for Chairman Choi on charges of embezzlement and derogation under the Specific Economic Crimes Aggregated Penalty Act.
Initially, the amount of’abnormal funds’ notified by the Financial Information Analysis Institute was worth 20 billion won, but it was found that the amount that Chairman Choi embezzled or damaged the company during the investigation has increased.
Chairman Choi only said “I’m sorry” to the reporters who were waiting after three hours and 30 minutes of arrest interrogation. Nothing was said about whether the slush fund was raised.
Chairman Choi is the second son of the late CEO Choi Jong-Geon, the founder of SK Group, and the cousin of SK Group Chairman Choi Tae-won. Since 2016, he has been the Chairman of the CEO of SK Networks.
Reporter Lee Ga-young [email protected]