SK Networks Chairman Choi Seon-won Arrested on Suspicion of Evidence Tampering (Comprehensive)

[Image source=Yonhap News]

[Asia Economy Reporter Dongwoo Lee] Choi Sun-won, chairman of SK Networks, who is accused of embezzling a large amount of company funds and breach of trust, was detained on the 17th.

Won Jeong-sook, the presiding judge in charge of warrants at the Seoul Central District Court, issued the detention warrant after conducting a pre-arrest interrogation of Chairman Choi on the same day.

Judge Won stated, "There is substantial reason to suspect that the suspect committed the crimes as alleged, and there is concern that evidence may be destroyed using his position. Considering the scale of the crime and its impact on the related companies, the grounds and necessity for detention are recognized."

Chairman Choi is accused of embezzling and misappropriating company funds during his management of SK Networks, SK Telesys, and SKC, lending company funds without collateral to his personal business, and failing to properly recover the funds, causing damage to the company.

The prosecution reportedly detected Chairman Choi's charges after a long investigation following a notification from the Financial Intelligence Unit (FIU) in 2018 about suspicious fund flows surrounding SK Networks.

Initially, the amount of suspicious funds reported by the FIU was in the 20 billion KRW range, but during the investigation, the amount embezzled or causing damage to the company by Chairman Choi is said to have increased.

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