[Asia Economy Reporter Jeong Dong-hoon] The police have sent the case involving former TV Chosun CEO Bang Jeong-o, who is accused of breach of trust, to the prosecution.
On the 13th, the Seoul Namdaemun Police Station announced that it had sent the case of former CEO Bang to the prosecution at the end of last month. This action was taken following objections filed by groups such as "Catch the Tax Thief" and the People's Livelihood Economy Research Institute, who had accused former CEO Bang and opposed the police's decision not to indict.
The accusers claimed that in 2018, former CEO Bang caused damage to the company by lending 1.9 billion KRW of funds from 'Highground,' a broadcasting program production company where he was the major shareholder, to Corporation A, which operates an English kindergarten, and filed a complaint with the National Police Agency in August last year.
Initially, the police intended not to refer the case to the prosecution, reasoning that although Corporation A's investment caused losses to Highground, it was difficult to conclude that there was intent to breach trust or that former CEO Bang violated his duties as an executive of Highground. In response, the accusing groups stated, "The non-indictment decision clearly ignored evidence and circumstances that constitute breach of trust in the course of business, misunderstood legal principles, confused basic facts, and conducted a deficient investigation," explaining their reasons for objection.
A police official explained, "We accepted the objection and sent the case to the prosecution."
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