(ATR) A South Korean prosecutor denied a request for a warrant to arrest former PyeongChang 2018 president Yang Ho Cho.
Cho, the chairman of the Hanjin Group, is alleged to have used more than $2.6 million in company funds for renovations on his home. Authorities questioned Cho about the misappropriation of funds last month, along with other Hanjin executives.
Authorities sought a warrant for Cho’s arrest for fear that he and others would destroy evidence. Investigators sought to charge Cho on breach of public trust.
A personal spokesperson for Cho said there was no additional comment on the police requesting a warrant. Local reports say that police are seeking the arrest of another executive at Hanjin whose last name is also Cho.
A report from KBS said that the prosecutor's office denied the request due to a "[need] to see more evidence" of the charges and that the police must continue the investigation to "make the charges more concrete."
Cho led PyeongChang 2018 from August 2014 until May 2016, when a financial crisis with Hanjin Shipping forced him to step down. During this time PyeongChang 2018 reportedly engaged in sponsorship dealings with the South Korean government that were part of the wide influence peddling scandal that took down President Geun Hye Park. After Cho’s resignation PyeongChang 2018 President Hee Beom Lee said all sponsorship contracts would be renegotiated.
Written by Aaron Bauer
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