Police Send CEO of Nodeulseom Complex Cultural Space Operator to Prosecution on Embezzlement Charges

[Asia Economy Reporter Gong Byung-sun] The police have handed over the CEO of the Nodeul Island Complex Cultural Space operating company to the prosecution on charges of embezzling private consignment project funds by falsely contracting service agreements and then refunding the money.

On the 28th, the Yongsan Police Station in Seoul announced that they had sent the CEO of the Nodeul Island Complex Cultural Space operating company to prosecution on charges of embezzlement in the course of business. The Seoul Metropolitan Audit Committee conducted an audit on the creation and operation status of the Nodeul Island Complex Cultural Space and filed a complaint against the CEO of the operating company on October 14 last year.

The CEO of the operating company was supposed to return the remaining project funds to Seoul City after the fiscal year ended, but was investigated for embezzling by falsely contracting service agreements, spending the money, and then receiving it back. It is reported that approximately 56 million won of private consignment project funds were embezzled using this method.

Nodeul Island was once planned to be developed as an opera house during the tenure of Mayor Oh Se-hoon, but the project stalled due to a lack of feasibility. Later, during the tenure of former Mayor Park Won-soon, Nodeul Island was developed as a complex cultural space.

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