A former executive of the Korean Federation of Arts and Culture Organizations, who fled the country for 10 years after being accused of malpractice and embezzlement, was arrested and charged while returning home in the aftermath of Myanmar’s earthquake.
The Seoul Central District Prosecutors’ Office’s Anti-Corruption Investigation Division 3 (Chief Prosecutor Lee Seung-hak) arrested and indicted A, a former general manager of the Korea Federation of Arts, on charges of breach of trust, breach of trust, and violation of the passport law under the Specific Economic Crimes Weighted Punishment Act on the 21st.
A is accused of conspiring with B, chairman of the Korea Federation of Arts and Crafts in April 2011 to sell 200,000 shares allocated by the Korea Federation of Arts and Crafts at about KRW 1.05 billion, which is cheaper than the market price, and receiving KRW 960 million in return.
It was also investigated that A received 100 million won in July 2013 after being asked to take over the lease of the Korean Artist Center owned by the Korea Federation of Arts in April 2012. He is also accused of receiving 70.5 million won between September 2011 and December 2012 after being asked to allow a specific company to be selected as a building management service provider, and 20 million won after being asked to participate exclusively in the flower delivery project promoted by the Korea Federation of Arts in 2010.
While under investigation between May and November 2015, it was revealed that A was issued a passport by attaching a photo of himself to the passport under the name of his mother of an employee of a beauty company he was running and fled abroad using it.
A was reportedly caught by prosecutors after attempting to return home for the first time in 10 years after a 7.7-magnitude earthquake hit Myanmar in March.