Former Hanjin Shipping Chairman May Get Arrest Warrant

 

Choi Eun-young is specifically charged with violating the Financial Investment Services and Capital Markets Act, according to prosecutors probing the case at the Seoul Southern District Prosecutors' Office.

 

The 54-year-old and her two daughters allegedly sold their stockholding in the Korean line for about  about 1 billion won (US$857,632) in losses days ahead of the company announcing a resturcuting, with prosectors convinced the sell off came from a tip off from sources within the shipping line.

 

Choi denied the charges during a questioning by prosecutors last week, saying she just sold the stocks to pay back her debts.

 

Choi’s home and offices have been raided earlier in the year, and prosecutors have also been talking to officials at Hanjin Shipping as they pursue their insider trading investigations.

 

Currently, Choi is the chairwoman of Eusu Holdings Co. that separated from Hanjin Group in May 2015.