Koo Young-bae, CEO of Q10 and Timef's management in the 'Unsettled Situation' Today's Arrest Crossroads

It will be decided as early as today whether Koo Young-bae, CEO of Quten Group, who was named the final person in charge of the large-scale non-settlement of Timon and Wemakeff, and the management of its affiliates will be arrested.

The Seoul Central District Court will interrogate Koo, Ryu Kwang-jin, Timon, and Ryu Hwa-hyun, Wemakeff, who are accused of fraud, embezzlement, and breach of trust under the Special Price Act, this morning (10th).

They are accused of stealing 1.595 trillion won worth of goods sales through a stop-gap operation, even though they knew that their management had deteriorated enough to be unable to pay the settlement price.

He is also accused of embezzling 67.1 billion won in company money to take over the U.S. e-commerce company, causing 60.3 billion won in damages to Timep and 8.9 billion won to Wemep by selling products to affiliates.

The prosecution found out that they falsely reported to the Financial Supervisory Service by reducing the amount of 500 billion won to 46 billion won as of the end of 2022 even after detecting signs of crisis two years before the non-settlement incident.

The prosecution filed an arrest warrant on the 4th, comprehensively considering the seriousness of the issue, the possibility of destroying evidence, and concerns about fleeing.