Korean Air CEO Indicted on Embezzlement Charges
Korean Air’s management has been through some trying times as of late — especially when it comes to its chairman and CEO Cho Yang-ho and his family.
On Monday, Cho was indicted in Seoul on charges of embezzling tens of millions of dollars, on top of other offenses. According to The Straits Times, Cho was charged with embezzling 19.6 billion won ($17 million), as well as unfairly awarding contracts to companies that are controlled by his family members.
The pocketed 19.6 billion won, collected in fees, was meant to be used for the airline’s maintenance and duty-free operations. In total, the money was collected during the course of the past five years.
Ahead of the proceedings, Cho was not detained, and a date for his trial was not set. Cho was also investigated for suspected tax evasion, though prosecutors dropped those charges in March 2014, according to Bloomberg.
Cho’s indictment is just the latest in a string of mishaps for the family — especially concerning his daughters. In 2014, his eldest daughter, Heather, forced a Korean Air plane to return to the gate because she wasn’t pleased with the nuts that were served on board. Then, earlier this year, her younger sister, Emily, threw water in the face of an advertising executive. Cho Yang-ho fired both women, who were serving as executives of the carrier.
A spokesperson for Korean declined to comment on the matter.
Featured image by Chung Sung-Jun / Getty Images.
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