[THE INVESTOR] Shin Young-ja, Lotte Group founder Shin Kyuk-ho’s daughter, has been indicted on charges of embezzlement and breach of trust, the Seoul Prosecutors’ Office said July 26.
The prosecution has requested a court order on Shin to expropriate 3.5 billion won (US$3.08 million) worth of her assets in the amount that she received as bribes.
Earlier this month, the 74-year-old head of Lotte Foundation became the first member of the Lotte founding family to get arrested amid an ongoing investigation into the nation’s fifth-largest conglomerate. The authorities have been probing Lotte since June on embezzlement and other allegations of malfeasance.
Shin is the sister of Lotte Group chairman Shin Dong-bin.
jemmie@heraldcorp.com
