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SEOUL, South Korea (AFP) — The elder brother of South Korea’s Lotte Group chairman has filed a lawsuit against his younger sibling for alleged accounting fraud, his spokesman said Tuesday, reigniting a bitter family feud over a stake in the business empire. “We submitted a complaint to the prosecutors’ office on September 30,” Thomas Hong, spokesman for Shin Dong-Joo, former vice president of Lotte Holdings, told AFP. Hong said Shin accused Lotte chairman Shin Dong-Bin […]
SEOUL, South Korea (Reuters) — Seoul prosecution investigators raided Lotte Group headquarters on Friday (June 10) morning, a group spokesman told Reuters, in what local media reported as a widening investigation into South Korea’s fifth-largest conglomerate. The raids came as the group’s Hotel Lotte unit is readying an IPO, worth up to $4.6 billion, that has been cut in value and pushed back after the emergence of a bribery probe. About 200 Seoul prosecution investigators […]
