South Korean prosecutors question Lotte Group Chairman Shin Dong-bin, the most senior executive to face interrogation as part of a sweeping criminal probe into the country’s fifth-largest conglomerate. David Pollard reports.
Lotte boss questioned in S Korea corporate probe
A moment of truth for Shin Dong-bin.
No doubt counting the cost of the last four months …
A failed 4.5 billion dollar IPO in June, the apparent suicide of his top lieutenant in August …
And now the Lotte Group chairman here at the Seoul prosecutor’s office – for questioning.
As part of a probe into suspected embezzlement at South Korea’s fifth-largest conglomerate.
First though – time for an apology.
(SOUNDBITE) (Korean) CHAIRMAN AND SECOND SON OF LOTTE GROUP, SHIN DONG-BIN, SAYING:
“I am sorry for causing concerns. I will sincerely cooperate with the prosecutors’ investigation.”
As chairman, Shin is in control of 92 billion dollars in assets – and a group already riven by a family succession feud even before the probe.
He is also the most senior Lotte executive to face interrogation.
His vice-chairman Lee In-won was found hanged under a tree just hours before he was due to be questioned late last month.
Earlier this month, prosecutors also questioned Shin Kyuk-ho – Lotte Group’s 93-year-old founder. – and his elder brother Shin Dong-joo.