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March 29, 2024

Police refer Orion vice chief to prosecution for embezzlement

PUBLISHED : October 24, 2018 - 13:32

UPDATED : October 24, 2018 - 13:32

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[THE INVESTOR] Police said on Oct. 24 they have referred the vice chairwoman of Korean confectionery maker Orion Group to the prosecution recommending she be charged for embezzlement.

Lee Hwa-kyung had been under police investigation for allegedly spending 20.3 billion won (US$17.80 million) of company funds on building a private mansion on the outskirts of Seoul between 2008 and 2014. 

Police sought to arrest Lee early this month, but the prosecution dismissed the request citing insufficient grounds for her detention.

Police had initially investigated her husband and Orion Group Chairman Tam Chul-gon over the allegations. But they later obtained testimony that pointed to Lee as the person who oversaw the construction.

Police suggested a non-indictment for Tam.

Orion has denied the allegations and insisted the house is a company training facility and has never been used for private purposes.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)

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