CEO of SPOTV Operator Accused of 'Embezzlement'... Sent to Prosecution

About 1 Billion KRW of Company Funds
KBO Lobbying Allegations Not Prosecuted

[Image source=Yonhap News]

[Asia Economy Reporter Oh Gyumin] The CEO of Aclla Entertainment (Aclla), the operator of the sports specialty channel SPOTV, has been referred to the prosecution on charges of embezzling company funds.

The Financial Crime Investigation Unit of the Seoul Metropolitan Police Agency announced on the 25th that last week, they sent Hong Mo (54), the CEO of Aclla, to the prosecution without detention on charges of embezzlement under the Act on the Aggravated Punishment of Specific Economic Crimes.

Hong is suspected of embezzling approximately 1 billion KRW of company funds over several years.

Earlier, the police investigated whether part of the embezzled amount had been paid as salaries to relatives of officials at the Korea Baseball Organization (KBO) Secretariat and whether it was used as lobbying funds, but decided not to prosecute on this matter.

In March, the police conducted a search and seizure at Aclla's office and secured related materials, but it appears they did not find evidence to prove the lobbying allegations.

Aclla handles overseas broadcasting rights sales for the KBO League and also operates TV channels including SPOTV.