Cha Ga Won, chairwoman of P_Arc Group and CEO of One Hundred Label, has been arrested on fraud charges.
The Seoul Central District Court held a hearing on August 3rd to review an arrest warrant request for Cha, who is accused of violating South Korea’s Act on the Aggravated Punishment of Specific Economic Crimes. Following the hearing, the court approved the warrant, leading to her arrest.
Prosecutors allege that Cha defrauded a company called Knowmerce of approximately 30 billion won ($21 million). According to the allegations, she proposed a business venture involving the intellectual property rights of artists under her entertainment agency, signed a contract with Knowmerce, and received an advance payment of 24.2 billion KRW ($ 17 million).
Investigators claim that the promised business was never carried out, resulting in estimated losses of around 30 billion won ($21 million). Cha has denied all allegations against her
>> One Hundred Label CEO Cha Ga Won Under Investigation for Alleged $20 Million Fraud
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