'300 billion won fraud suspicion' Cha Ga-won, detention warrant review concludes in 2 hours and 45 minutes... remains silent to reporters' questions [Comprehensive]

*This content was translated by AI.

The pre-trial detention hearing (substantive review of the arrest warrant) for Cha Ga-won, chairman of PIA Group and CEO of One Hundred Label, who is suspected of fraud involving approximately 300 billion won, concluded after about 2 hours and 40 minutes.

On the morning of the 3rd, Judge Bu Dong-sik, presiding judge of the specialized warrant division at Seoul Central District Court, conducted a substantive review of the arrest warrant against Cha (CEO), who is suspected of violating the Act on Aggravated Punishment of Specific Economic Crimes (fraud), starting around 10 a.m.

After concluding the hearing, Cha (CEO) left the courthouse around 12:45 p.m. However, Cha (CEO) remained silent when reporters asked questions such as "What points were clarified?" and "Do you admit to the allegations?" It is expected that the decision on whether to detain Cha (CEO) will be made as early as late this afternoon.

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

Cha Ga-won's side has completely denied the allegations, stating they were raised in the context of hostile mergers and acquisitions (M&A).

Furthermore, Cha Ga-won is also suspected of proposing to acquaintances that they sign lease contracts using houses under their own names, receiving approximately 5.4 billion won in deposits, but failing to fulfill the contracts.

Previously, 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, police requested an arrest warrant from the court on the 28th of last month.

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*This content was translated by AI.