The prosecution on Saturday indicted pastor Cho Yong-gi of Yoido Full Gospel Church in Yeouido, Seoul, on charges of breach of trust and tax evasion.
Cho, the founder and pastor emeritus of the country’s largest church, is responsible for losses of some 15.7 billion won ($14 million) incurred by the church, according to the Seoul Central District Prosecutors’ Office.
The prosecutors said Cho had instructed the church officials to purchase stocks owned by his eldest son Hee-jun at prices nearly four times higher than their market value in 2002.
The pastor is also suspected of evading some 3.5 billion won in taxes in the process, the prosecutors said.
His eldest son has been indicted on embezzlement charges in December.
His second son Min-je, who is the chairman of the Kookmin Ilbo, is also on trial facing embezzlement charges for misusing a government subsidy granted to the daily newspaper.
