Prosecutors Request Arrest Warrant for 'The Hundred Label' CEO Cha Ga-won Over 30 Billion Won Embezzlement

Prosecutors requested an arrest warrant on the 28th for Cha Ga-won, the CEO of the entertainment agency The Hundred Label, who is suspected of absconding with 30 billion won. The Seoul Central District Prosecutors' Office requested the detention to prevent Cha, who is facing charges under the Act on the Aggravated Punishment of Specific Economic Crimes (fraud), from fleeing or destroying evidence.

Cha is suspected of receiving a 24.2 billion won advance payment from Norms Co., Ltd. after proposing a business utilizing the intellectual property (IP) of his affiliated entertainers, while concealing the fact that he had already signed a contract with another company and entering into a dual contract. The total damage is estimated to be around 30 billion won.

The Seoul Metropolitan Police Agency's Financial Crime Investigation Unit applied for an arrest warrant for Cha twice in June, but the prosecution rejected the requests, demanding supplementary investigation. The police conducted additional investigations, including tracking Cha's accounts and analyzing contractual relationships, before applying for the warrant for the third time on the 22nd. The police conducted a search and seizure of The Hundred's subsidiary, Big Planet Made Entertainment, in April, summoned Cha for investigation as a suspect in May, and the prosecution conducted an interrogation prior to the detention warrant request on the 27th.

Cha Ga-won's legal counsel stated that the fraud charges are unfounded.