September 17, 2019 08:51
The Seoul Central District Court issued an arrest warrant late Monday for a distant nephew of controversial new Justice Minister Cho Kuk over allegations of dodgy financial dealings.
The nephew, also surnamed Cho, was arrested at Incheon International Airport last Saturday on embezzlement and other related charges after hiding around a month overseas.
He is believed to be the de facto owner of Co-Link Private Equity, which is owned by the Cho family and suspected of dubious financial dealings.
Cho Kuk's family, including his wife and children, invested a combined W1 billion in the fund, which made suspicious profits from investments linked to public projects (US$1=W1,184).
Meanwhile, Hwang Kyo-ahn, the leader of the main opposition Liberty Korea Party had his head shaved in front of Cheong Wa Dae in Seoul on Monday in a show of protest, calling for Cho's resignation.
Hwang said President Moon Jae-in should hear the public's call to dismiss Cho as he faces a probe by prosecutors over the allegations against his family.
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