BUSINESS

Third-generation LG family member wanted by Interpol for stock manipulation

By Yonhap
  • Published : May 28, 2019 - 20:13
  • Updated : May 29, 2019 - 09:09

A third-generation LG Group family member now on the run overseas has been placed on Interpol's wanted list on charges of stock manipulation and other crimes, prosecutors said Tuesday.

The Seoul Southern District Prosecutors' Office said it has asked for Interpol's cooperation for the arrest of Koo Bon-hyun, a nephew of LG Group honorary chairman Koo Cha-kyung, after nullifying his passport.

 

LG Group honorary chairman Koo Bon-hyun. (The Korea Herald)


The 51-year-old Koo had escaped abroad after allegedly pocketing an illegal profit of 14.5 billion won ($12.2 million) through false disclosure of information about a communication terminal manufacturer and a game developer he had earlier acquired without capital, prosecutors said.

The fugitive is also accused of committing embezzlement and breach of trust worth 22.7 billion won, they said.

Three former officials of the communication terminal manufacturer have been referred for trial on the same charges, they added.

Prosecutors launched their probe into Koo last November after the suspect left for the Netherlands last October.

In 2012, Koo was convicted of stock manipulation and embezzlement and sentenced to a three-year prison term and a fine of 13.9 billion won.(Yonhap)



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