Koo Young-bae, CEO of Q10 and Timef in the Unsettled Situation, Crossroads for Arrest

Executives such as Koo Young-bae in the 'Timev Crisis' are being reviewed for arrest

Koo Young-bae "Apologies to the victims and the people...Denial of fraud charges, etc.

acknowledges responsibility for the incident...Management Judgment to Transition to Surplus"

[Anchor]
It will be decided as early as today whether to arrest Koo Young-bae, head of Quten Group and representatives of Timev, who have been cited as the upper echelons of Tmon and Wimev's large-scale non-settlement.

Attention is focusing on whether the prosecution will be able to secure the whereabouts of key suspects in about two months after the investigation begins,

Connect with reporters for more information. Reporter Kim Taewon!

The pre-arrest interrogation of CEO Koo Young-bae and management is almost over?

[Reporter]
Yes, CEO Koo Young-bae of Quten and CEO Ryu Hwa-hyun of Wemakeff, who were designated as the final people in charge of the Timeph incident, completed the interrogation of the suspect before the scheduled arrest.

The arrest examination for Ryu Kwang-jin, CEO of Timon, began at 11:30 a.m. and is expected to end soon.

Representative Koo, who attended the court first to be reviewed, said he apologized to the victims and the public, but denied allegations of fraud worth 1.5 trillion won.

I'll listen to it myself.

[Koo Young-bae / CEO of Q10 Group: (Do you admit that you stole 1.5 trillion won in settlement?) No.]

Ryu Hwa-hyun, CEO of Wemakeff, who arrived at the court, admitted that he was partly responsible, but explained in court that he would explain to the court that it was a management judgment made to turn into a surplus.

Let's listen to this part ourselves.

[Ryu Hwa-hyun / CEO of WeMakePrice: We came back because we wanted to make a good company. I explained the process because I sacrificed my annual salary compared to the existing company and received a credit loan to make a surplus a year later.]

CEO Ryu Kwang-jin did not disclose a separate position.

However, it is expected to refute the fact that representative Koo only followed the instructions and did not intend to commit the crime, as it is a structure that controls the overall operation of Timef through the Quten Group.

They were charged with fraud, embezzlement, and breach of trust under the Specific Economic Crimes Weighted Punishment Act.

Specifically, the charges of stealing KRW 1.595 trillion by deceiving sellers and continuing the business of blocking them even though they knew they could not pay the settlement amount,

Both Timon and WeMakePrice are accused of causing more than KRW 69.2 billion in damage to Timon and WeMakePrice by supplying all the work to affiliates that allow them to sell Timon and WeMakePrice products on QExpress.

He is also accused of embezzling 67.1 billion won in funds from Timon and Wemakeff to use it as a payment for the acquisition of Wish, an American e-commerce company.

The prosecution said in today's arrest review that the incident was a serious crime that caused astronomical property damage to vendors, most of whom are ordinary and small businesses,

In addition, representatives Ryu Kwang-jin and Ryu Hwa-hyun are expected to emphasize that there is a risk of eliminating evidence by presenting a situation in which they plotted to pass the responsibility on representative Koo.

Their arrest is expected to be decided as early as late as this afternoon,
If the
prosecution succeeds in securing recruits for the final officers, including CEO Koo, it will also consider whether to investigate other QTEN group affiliates such as AK Mall and Interpark Commerce.

So far, I'm Kim Tae-won of YTN in the Seoul Central District Court.