KRW 2 billion in losses to companies involved in operating the Jangchung Tennis Center in Seoul
[서울=뉴시스]Reporter Cheol-Hwi Lim = Former CEO of Tongyang Life Insurance, Jou Gwo-Duan, was sent to the prosecution on charges of breach of trust in connection with the fact that Tongyang Life Insurance spent 2.7 billion won to indirectly secure the right to operate Jangchung Tennis Center in Seoul in 2022.
The Financial Crimes Investigation Unit of the Seoul Metropolitan Police Agency announced on the 2nd that it had sent former CEO Zhou to the prosecution on charges of breach of trust and other charges at the end of last month.
Former CEO Zhou is accused of causing damage worth 2 billion won to the company in connection with the operation of the Jangchung Tennis Center in Seoul.
Previously, the Financial Supervisory Service requested the police to investigate former CEO Zhou in 2022, saying that it had identified circumstances in which Tongyang Life Insurance acquired the operating rights under conditions unfavorable to the company while acting as the actual operator of Jangchung Tennis Center in Jung-gu, Seoul from October 2022. .
The Financial Supervisory Service found that when Tongyang Life Insurance did not meet the operator qualification requirements, such as ‘tennis court operation performance within the last five years’, it received a ‘circumvention bid’ by putting forward company A and compensated for the winning bid amount in the form of additional advertising expenses.
Company A won the bid for the right to operate the tennis court for 2.66 billion won, where the previous bid was 370 million won, and Tongyang Life Insurance decided to preserve 2.7 billion won for three years for company A in the name of advertising expenses.
In addition, 160 million won in labor and management expenses was paid in the name of advertising agency fees.
At the time, Tongyang Life Insurance explained that it was pursuing the operation of a tennis court as part of its healthcare service using tennis, but some suspected that former CEO Zhou had acquired the tennis court for personal hobby purposes.
Last May, the police searched and seized Tongyang Life Insurance’s headquarters in Jongno-gu, Seoul and former CEO Zhou’s home in connection with the allegations against former CEO Zhou.
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