Thai Eastar Jet CEO faces arrest on breach of belief charges

The CEO of Thai low-cost carrier, Thai Eastar Jet Co., Park Seok-ho, is dealing with arrest on charges of breach of trust and different offences, in accordance with the Jeonju District Prosecutors Office in Jeonju, South Korea. Privy requested a pretrial detention warrant for Park, and a court docket listening to is ready to take place later today, reported Yonhap News Agency.
Park was taken into custody on Tuesday, following allegations that he caused financial losses to South Korean low-cost service, Eastar Jet, by using its funds to ascertain Thai Eastar Jet. Thai Eastar Jet, which was established in February 2017, is suspected of being owned by Eastar Jet founder and former Democratic Party lawmaker, Lee Sang-jik.
Reports suggest that Lee has been listed as an accomplice to Park in the written arrest warrant request. Lee is currently serving a six-year jail time period after being convicted by a Jeonju district court in January last 12 months for embezzlement of firm funds and breach of belief involving Eastar Jet.
Korea JoongAng Daily reported that up to 600 former workers of Eastar Jet didn’t receive their wages or severance pay, amounting to a complete of 60 billion won (US$48 million). However, Lee and his household allegedly continued to live an expensive life-style using a company credit card and a leased foreign-brand automotive.
Lee can additionally be suspected of involvement in a discreet move by the family of President Moon Jae-in’s daughter to Thailand in 2018. Moon’s son-in-law, who had poor English skills, was reportedly recruited for a senior position at Thai Eastar Jet with a recommendation and guarantee from Eastar Jet in Korea. Despite Lee’s denial, there are considerations that he may have played a job in arranging the move, because the Thai service was established as a joint venture between Thai investors and Korea’s Eastar Jet.
Lee’s political profession has been on the rise since he was appointed to a presidential job committee after Moon’s inauguration in 2017. He later headed the Korea SMEs and Startups Agency in 2018, and in 2020, received a ticket from the ruling get together to run in Jeonju, a conventional voting base for the liberal get together, and was elected with ease..

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