EXO-CBX CEO of One Hundred Faces Fraud Arrest warrant Application and prohibition of departure Measure

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Cha, Chairman of EXO-CBX Piark Group and CEO of One Hundred, who is facing charges of fraud amounting to 30 billion won, has been subject to an arrest warrant application and a prohibition of departure by the police. Chas side stated that if the arrest warrant is denied, they will request the Ministry of Justice to lift the prohibition of departure.The Financial Crimes Investigation Division of the Seoul Metropolitan Police Agency applied for an arrest warrant and requested a prohibition of departure against CEO Cha on charges of fraud under the Act on the Aggravated Punishment of Specific Economic Crimes. It is reported that the police made this decision considering the gravity of the matter and concerns regarding flight and destruction of evidence.CEO Cha is accused of failing to fulfill a business contract after receiving an advance payment of 24.2 billion won from Nomus through a business contract utilizing the intellectual property rights of an affiliated celebrity. He is also accused of failing to fulfill a lease agreement worth 5.4 billion won signed with an acquaintance.The police suspect that CEO Cha entered into the contract while concealing the fact that he was in a situation where he would be unable to fulfill the obligations. CEO Cha completely denied the charges during the police investigation and explained that the allegations were claims made during the hostile takeover process.

Cha, Chairman of EXO-CBX Piark Group and CEO of One Hundred, who is facing charges of fraud amounting to 30 billion won, has been subject to an Arrest warrant application and a prohibition of departure by the police. Cha’s side stated that if the Arrest warrant is denied, they will request the Ministry of Justice to lift the prohibition of departure.

The Financial Crimes Investigation Division of the Seoul Metropolitan Police Agency applied for an Arrest warrant and requested a prohibition of departure against CEO Cha on charges of fraud under the Act on the Aggravated Punishment of Specific Economic Crimes. It is reported that the police made this decision considering the gravity of the matter and concerns regarding flight and destruction of evidence.

CEO Cha is accused of failing to fulfill a business contract after receiving an advance payment of 24.2 billion won from Nomus through a business contract utilizing the intellectual property rights of an affiliated celebrity. He is also accused of failing to fulfill a lease agreement worth 5.4 billion won signed with an acquaintance.

The police suspect that CEO Cha entered into the contract while concealing the fact that he was in a situation where he would be unable to fulfill the obligations. CEO Cha completely denied the charges during the police investigation and explained that the allegations were claims made during the hostile takeover process.

Police Seek Arrest Warrant and Travel Ban for Cha Ga-won

The Seoul Metropolitan Police Agency has requested an arrest warrant and a travel ban for Cha Ga-won, the chairman of PiArk Group and representative of One Hundred, amid allegations of fraud totaling 30 billion KRW. Authorities cited the gravity of the charges and concerns regarding potential flight or destruction of evidence as the basis for these legal measures.

Details of Fraud Allegations Against One Hundred Representative

Cha Ga-won faces accusations of failing to fulfill a 24.2 billion KRW contract with Nomus, which involved utilizing intellectual property rights of artists under his agency. Additionally, he is under investigation for a separate 5.4 billion KRW housing lease dispute, though he has denied all allegations and characterized the claims as part of a hostile M&A conflict.