[Breaking News] Cha Ga-won, '30 billion won fraud' arrest warrant issued... "Concerns of evidence destruction"

*This content was translated by AI.

An arrest warrant has been issued against Cha Ga-won, chairman of PIA Group and CEO of One Hundred Label, who is suspected of fraud involving approximately 30 billion won.

On the 3rd, the court issued an arrest warrant for Chairman Cha Ga-won, citing concerns over evidence destruction.

Earlier, Judge Bu Dong-sik of the Seoul Central District Court's specialized warrant division conducted a substantive review of the warrant against Cha (CEO), who is suspected of violating the Act on Aggravated Punishment of Specific Economic Crimes (fraud), starting around 10 a.m. that day.

After concluding the hearing, Cha (CEO) left the courthouse around 12:45 p.m. However, he remained silent when asked by reporters about what points were clarified and whether he admitted to the allegations. It is expected that the decision on whether to detain Cha (CEO) will be made as early as late afternoon today.

Cha (CEO) is suspected of proposing a business using the intellectual property (IP) of artists under his agency to Knowmerce Co., Ltd., signing a contract, and receiving an advance payment of 24.2 billion won, but failing to proceed with the promised business as agreed. The scale of damage is reported to be approximately 30 billion won.

The side of Cha (CEO) has completely denied the allegations, stating that they were raised during a hostile merger and acquisition (M&A) process.

Additionally, Cha (CEO) is also suspected of proposing to acquaintances that they sign lease contracts using their own names for housing, receiving approximately 5.4 billion won in deposits, but failing to fulfill the contracts.

Earlier, the police requested an arrest warrant twice, but the Prosecution Service rejected both requests. After conducting supplementary investigations and determining that there was a need for detention, the police filed a request for an arrest warrant with the court on the 28th of last month.

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*This content was translated by AI.