Lotte Group Chairman Shin Dong-bin underwent 18 hours of questioning with the prosecution regarding his involvement in corruption allegations surrounding the Lotte founding family and affiliates.
He was summoned by the Seoul Central District Prosecutors' Office Tuesday morning as a suspect for various charges including alleged misappropriation and embezzlement of some 200 billion won in funds.
During the grilling, Shin is said to have denied most of the charges. He reportedly said that he did not know about the alleged creation by Lotte Construction of slush funds worth some 30 billion won over the past ten years.
He is also said to have told the prosecution that Lotte affiliates’ business practices in question were based on the judgment from a conventional managerial perspective, and were not intended at misappropriation.
The prosecution plans to decide whether to seek an arrest warrant for Shin based on the questioning.