'300 billion won fraud allegations' Cha Ga-won faces arrest today (3rd)..warrant review in progress

*This content was translated by AI.

Cha Ga-won, chairman of PIAC Group and CEO of One Hundred Label, who is facing fraud allegations involving 300 billion won, is on the verge of being arrested.

According to legal sources on the 3rd, Seoul Central District Court Presiding Judge Bae Dong-sik will conduct a pre-trial detention hearing (substantive warrant review) at 10 a.m. today against Cha (CEO), who is suspected of violating the Act on Aggravated Punishment of Specific Economic Crimes (fraud).

Cha (CEO) is accused of proposing to Knowmerce Co., Ltd. a business utilizing the intellectual property rights (IP) of its affiliated entertainers, signing a contract, and receiving an advance payment of 24.2 billion won without actually carrying out the business. The scale of damage is reported to be approximately 30 billion won.

The Seoul Central District Prosecutors' Office Human Rights Protection Division conducted an interview investigation prior to requesting an arrest warrant against Cha (CEO) on the 27th of last month, and subsequently filed a request for an arrest warrant.

However, earlier, the Prosecution Service rejected the arrest warrant twice with the intent of supplementing the constitution of criminal facts, and the Seoul National Police Agency Financial Crime Investigation Division applied for a third arrest warrant against Cha (CEO) on the 22nd of last month.

During the police investigation, Cha (CEO) completely denied the allegations. It was reported that he argued that various suspicions surrounding One Hundred Label were raised during the process of hostile mergers and acquisitions (M&A).

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*This content was translated by AI.