Prosecution Charges Former BBQ Chairman Yoon Hong-geun with Breach of Trust

Yoon Hong-geun, Chairman of Genesis BBQ / Asia Economy DB

[Asia Economy Reporter Kim Hyung-min] Yoon Hong-geun, former chairman of the chicken franchise Genesis BBQ, has been indicted on charges of breach of trust.

The Criminal Division 2 of the Seongnam Branch of Suwon District Prosecutors' Office (Chief Prosecutor Song Jeong-eun) announced on the 1st that Yoon was indicted without detention on April 16 on charges of violating the Act on the Aggravated Punishment of Specific Economic Crimes (breach of trust).

Yoon is accused of causing damage to the company by having Genesis, the holding company of BBQ, and BBQ itself lend several billion won of company funds to his personal company J Corporation from 2013 to 2016, and failing to recover a significant amount. J Corporation is a personal company established in July 2013 with 100% investment from Yoon's family. J Corporation was later sold due to reasons including capital erosion.

Competition in the chicken industry, bhc, filed a complaint with the Seongnam Sujeong Police Station in April 2021, alleging that "Yoon Hong-geun, chairman of BBQ, caused damage by lending approximately 8.3 billion won of company funds to a personal company unrelated to BBQ," initiating the investigation.

After nearly a year of investigation, the police decided not to prosecute the case in July last year. However, bhc appealed this decision in August of the same year, and the prosecution found grounds for breach of trust charges against Yoon and referred the case to trial.