[Sportschosun Jo Min-jeong] ONE HUNDRED CEO Cha Ga-won, who is under suspicion of fraud involving more than 30 billion won, has had a third arrest warrant requested by police. Through his legal representative, he has pushed back, saying the investigation was unlawful.
On the 22nd, the Financial Crime Investigation Team of the Seoul Metropolitan Police Agency Metropolitan Investigation Unit applied to prosecutors for an arrest warrant for Cha on charges including fraud under the Act on the Aggravated Punishment of Specific Economic Crimes.
In response, Hyun Dong-yeop, a lawyer at Hwageum Law Firm and Cha’s legal representative, issued an official statement saying, "We released a video on YouTube showing the Financial Crime Investigation Team’s unlawful investigative process." He added, "Seeking an arrest warrant based on an investigation that directly violates the Criminal Procedure Act of the Republic of Korea is an example that shows why prosecutors need supplementary investigative authority," and argued, "We hope the Prosecutors' Office will fully review principles such as the exclusion of illegally obtained evidence before deciding on this warrant request."
This is the third time police have sought an arrest warrant for Cha. Police first applied in June, but prosecutors rejected it. A revised request was also turned down on the grounds that the alleged facts of the case still needed to be supplemented.
Police believe Cha proposed a business deal to Nomus using the intellectual property rights of artists affiliated with the entertainment agency he runs, signed a contract, received an advance payment of 24.2 billion won, and then failed to carry out the agreement.
The total amount of damage related to the case is reportedly around 30 billion won.
Cha’s side has consistently denied all related allegations and claimed the case is an extension of an attempted hostile merger and acquisition (M&A) targeting ONE HUNDRED. He is also accused of receiving a 5.4 billion won deposit after agreeing to lease a home jointly owned with an acquaintance, while failing to follow through on the contract.
Jo Min-jeong mj.cho@sportschosun.com
This article has been translated by GripLabs Mingo AI.
