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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Jisun] Prosecutors investigating the massive unsettled payment crisis at TMON and WEMAKEPRICE have summoned TMON CEO Ryu Kwang-jin and WEMAKEPRICE CEO Ryu Hwa-hyun for questioning on consecutive days.
The dedicated investigation team at the Seoul Central District Prosecutors’ Office began interrogating both executives on the morning of the 20th as suspects in fraud and embezzlement. This follows a lengthy session the previous day, which lasted until around 10 PM. Ahead of his appearance, Ryu Hwa-hyun stated that during the prior day’s questioning, prosecutors had already concluded much of their investigation and pressed him on whether he was aware of certain facts.
Prosecutors are reportedly questioning the executives about when they became aware of the difficulties in settling payments with sellers and their involvement in Qoo10 Group's acquisition of the overseas shopping mall "Wish." The prosecution alleges that TMON misused around 50 billion won in seller payment funds to facilitate Qoo10’s acquisition of Wish, while simultaneously conducting fraudulent operations amounting to approximately 1.4 trillion won despite being unable to make payments. Once the questioning of the two executives concludes, prosecutors are expected to summon Qoo10 CEO Koo Young-bae, seen as a key figure in this incident.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
