'Optimus-Linked' Former Sebotech Vice Chairman's Arrest Warrant Dismissed

[Image source=Yonhap News]

[Asia Economy Reporter Song Seung-yoon] Ko Mo, former vice chairman of Sebotech involved in the Optimus Asset Management fund fraud case, has avoided the risk of detention.

On the 28th, Judge Kim Tae-gyun, in charge of warrants at the Seoul Central District Court, held a pre-arrest detention hearing for Ko and dismissed the arrest warrant, stating, "While a significant portion of the criminal charges has been substantiated and the case is serious, there is room for dispute regarding the suspect's specific role and degree of involvement in embezzlement and breach of trust."

Judge Kim explained the reason for dismissal, saying, "Considering the evidence collected so far, the progress of the investigation, the suspect's sincere cooperation with multiple voluntary summons by investigative agencies, and the suspect's residence and family relations, it is difficult to see any risk of evidence destruction or flight at this stage."

Earlier, on the 27th, the prosecution applied charges of embezzlement and breach of trust under the Act on the Aggravated Punishment of Specific Economic Crimes, as well as violations of the Attorney-at-Law Act, and requested an arrest warrant for Ko.

Ko is accused of conspiring with Oh Mo, chairman of company M, to embezzle 3 billion KRW from Sebotech, a subsidiary of Haeduck Powerway, and use it as a deposit for acquiring S company, a KOSDAQ-listed firm. Oh was indicted first in November last year.

Ko is also suspected of embezzling several hundred million KRW under the pretext of settling various lawsuits faced by former and current executives during the Haeduck acquisition process.

This content was produced with the assistance of AI translation services.