Franchise CEO Arrested for Fraud in Food Court Subsidy Scandal

2023-10-09 21:11:38

Delivery time2023-10-10 06:11

The CEO of a franchise company that closed following receiving subsidies in exchange for a food court in a newly built shopping mall was arrested and handed over to the prosecution.

The Gyeonggi Southern Police Agency’s Anti-Corruption and Economic Crime Investigation Unit arrested and sent Mr. A, a man in his 50s who runs a franchise company, on charges of fraud.

Mr. A is accused of failing to properly fulfill the contract following receiving 2.7 billion won in subsidies from the developer in 2020 under the condition of creating a food court in a newly built shopping mall in Siheung City.

Mr. A claimed management difficulties due to COVID-19, but the police believed that Mr. A had intentionally deceived the developer.

Reporter Jeong Rae-won ([e-mail])

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