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Photo = Yonhap news |
[Alpha Biz= Reporter Kim Jisun] The arrest warrants for Qoo10 Group CEO Koo Young-bae and the CEOs of TMON (Ryu Kwang-jin) and Wemakeprice (Ryu Hwa-hyun), who were implicated as key figures in the unresolved settlement issues at TMON and Wemakeprice, have been dismissed once again.
On November 18, Judge Nam Cheon-gyu of the Seoul Central District Court, responsible for warrant reviews, denied the arrest warrants for the three executives charged with fraud, embezzlement, and breach of trust under the Act on the Aggravated Punishment of Specific Economic Crimes. This decision followed a pretrial detention hearing.
Regarding CEO Koo, Judge Nam stated, "Since the previous dismissal of the arrest warrant, there is no evidence that the suspect attempted to destroy evidence or flee. There are also substantial grounds for dispute over the establishment and circumstances of the alleged crimes." The judge added that, based on the evidence collected so far, Koo’s claims, the investigation's progress, and his professional and social ties, there is insufficient reason to fear evidence tampering or flight.
As for Ryu Kwang-jin and Ryu Hwa-hyun, the court found no attempts to tamper with evidence or flee after their earlier warrants were dismissed. Additionally, there is room for dispute regarding their alleged involvement and roles in the crimes.
In Ryu Hwa-hyun’s case, the court also considered the circumstances under which he joined Wemakeprice as a mitigating factor in the decision to dismiss the warrant.
The court’s repeated rejection of the arrest warrants is likely to significantly impact the ongoing investigation and legal proceedings surrounding the settlement disputes.
AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)
