South Korea: Prosecutors reportedly to charge Lotte Group Chairman

Prosecutors asked for an arrest warrant for Shin on embezzlement charges and breach of trust but a South Korean court rejected the request.

By: Reuters | Seoul | Published:October 18, 2016 1:36 pm
lotte-logo-759 Lotte logo.

South Korean prosecutors plan to charge Lotte Group chairman Shin Dong-bin, wire service Yonhap reported on Tuesday, in the latest twist to a wide-ranging corruption probe that has convulsed the country’s fifth-largest conglomerate.

Prosecutors last month asked for an arrest warrant for Shin on charges of embezzlement and breach of trust but a South Korean court rejected their request for the warrant.

Yonhap said that while Shin would be charged, he would not be arrested.

Prosecutors will announce the results of their probe into Lotte Group on Oct. 19, a prosecution source with direct knowledge of the matter told Reuters.

The source, who was not authorised to speak to the media, declined comment on what their decision would be regarding Shin.
Representatives for Lotte Group and a spokesman for the prosecutors’ office could not be immediately reached.