Arrest Warrant Sought for Hancom Chairman Kim Sang-cheol in Alleged Slush Fund Case

IconCryptoNewsTerminal Staff16 Jul, 2024

cryptonews.jpg

Arrest Warrant Sought for Hancom Chairman Kim Sang-cheol in Alleged Slush Fund Case

According to News 1, the Seongnam Branch of the Suwon District Prosecutors' Office requested an arrest warrant for Hancom Chairman Kim Sang-cheol on charges of embezzlement and violating the Act on the Aggravated Punishment of Specific Economic Crimes. The police had previously applied for an arrest warrant on the 11th of this month following an investigation that began in October 2022. The investigation involves allegations that Chairman Kim directed an insider to create slush funds using "Arrowana Tokens." The police have conducted searches at the Hancom Group executive office, Hancom With headquarters, and Chairman Kim's residence. This news follows previous reports of Hancom With's involvement in a suspected slush fund scheme. The company has been accused of creating and using slush funds for undisclosed purposes. The arrest warrant request is a significant development in the ongoing investigation, and it remains to be seen what the outcome will be.

Related News