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Lotte Group chairman avoids arrest over corruption allegations

All News 04:28 September 29, 2016

SEOUL, Sept. 29 (Yonhap) -- The chief of the embattled South Korean retail giant Lotte avoided arrest Thursday as a Seoul court rejected a prosecutors' request for a warrant to formally arrest him over embezzlement and breach of trust charges.

The Seoul Central District Court turned down the request, saying it's difficult to recognize the need for arresting the 61-year-old chairman, Shin Dong-bin.

Prosecutors have accused Shin of orchestrating a series of shady deals at the group's affiliates, as well as giving large stipends to the owner's family for just being listed as board members of the conglomerate's Korean and Japanese branches.

Authorities suspect the amount of money transacted illegally under Shin's direction to hover around some 170 billion won (US$154 million).

Shin Dong-bin (C) enters the Seoul Central District Court on Sept. 28, 2016, to attend a hearing that will decide whether to arrest him over allegations of embezzlement and breach of trust in a prosecution probe into a string of the group's alleged wrongdoings. (Yonhap)


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