Prosecution Indicts Former Hyosung Vice President Jo Hyun-moon in 'Brotherly Conflict'... Attempted Coercion Charges
Attempted Coercion Charge
[Asia Economy Reporter Jang Sehee] The prosecution has indicted former Hyosung Vice President Cho Hyun-moon, who was sued by Hyosung Group Chairman Cho Hyun-joon, on charges of attempted coercion.
According to the legal community on the 8th, the Major Crimes Investigation Division of the Seoul Central District Prosecutors' Office (Chief Prosecutor Jo Gwang-hwan) indicted former Vice President Cho and former News Communication CEO Park Su-hwan on charges of attempted coercion and attempted extortion, respectively.
Former Vice President Cho had previously accused his older brother, Chairman Cho, and others of embezzlement and breach of trust at affiliated companies in July 2014. In response, Chairman Cho filed a lawsuit in March 2017, claiming that former CEO Park, acting as his advisor, had threatened him and accused former Vice President Cho of attempted extortion and other charges.
It is known that Chairman Cho's side claims that former Vice President Cho threatened to hand over materials containing illegal activities to the prosecution unless his unlisted shares were purchased at a high price, and that former CEO Park was promised a large sum of money as a reward if this plan succeeded.
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The prosecution investigating this case had suspended the indictment (temporarily halting the investigation when the suspect's whereabouts are unknown) after former Vice President Cho fled overseas. However, at the end of last year, when former Vice President Cho returned to Korea and his whereabouts were confirmed, the suspension was lifted and the investigation resumed.
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