By Lee Kyung-min
Jung Woon-ho, CEO of cosmetic brand Nature Republic, was put behind bars on charges of gambling overseas, the prosecution said, Wednesday. The government considers gambling overseas by Koreans to be illegal and practices extra-territorial jurisdiction.
The Seoul Central District Court issued an arrest warrant for him late Tuesday night. The court planned to have him appear before deciding on the issuance earlier in the day, but Jung did not appear and instead submitted a statement admitting his guilt in full, the prosecution said.
He is suspected of having gambled 10 billion won through a Korean crime ring at casinos in Macau and the Philippines from 2012-2014.
He is also suspected of having used company funds to gamble, the prosecution said.
During questioning on Sept. 30, Jung confessed to the allegation, but denied using company funds.
His arrest comes amid the prosecution's widening investigation into local crime rings involved in gambling operations in those countries.
In July, the prosecution indicted eight members of a crime gang for organizing and operating casinos overseas and for helping to attract gamblers. Besides Jung, it indicted two other businesspeople, whose identities were withheld, on charges of illegal gambling, and is investigating six more on similar allegations.
Jung has been a big name in the cosmetics industry. He established the moderate-priced cosmetic brand, The Face Shop, in 2003, making it one of the best-selling brands. In 2009, he set up another cosmetic brand, Nature Republic, which reported sales of 25 billion won last year alone. It has more than 100 shops in 14 countries including China and the U.S.
In July, the National Tax Service conducted an audit into the company. While rumors were that the audit was in connection with Jung's alleged gambling, the company said it was just a regular inspection.
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| Jung Woon-ho |
The Seoul Central District Court issued an arrest warrant for him late Tuesday night. The court planned to have him appear before deciding on the issuance earlier in the day, but Jung did not appear and instead submitted a statement admitting his guilt in full, the prosecution said.
He is suspected of having gambled 10 billion won through a Korean crime ring at casinos in Macau and the Philippines from 2012-2014.
He is also suspected of having used company funds to gamble, the prosecution said.
During questioning on Sept. 30, Jung confessed to the allegation, but denied using company funds.
His arrest comes amid the prosecution's widening investigation into local crime rings involved in gambling operations in those countries.
In July, the prosecution indicted eight members of a crime gang for organizing and operating casinos overseas and for helping to attract gamblers. Besides Jung, it indicted two other businesspeople, whose identities were withheld, on charges of illegal gambling, and is investigating six more on similar allegations.
Jung has been a big name in the cosmetics industry. He established the moderate-priced cosmetic brand, The Face Shop, in 2003, making it one of the best-selling brands. In 2009, he set up another cosmetic brand, Nature Republic, which reported sales of 25 billion won last year alone. It has more than 100 shops in 14 countries including China and the U.S.
In July, the National Tax Service conducted an audit into the company. While rumors were that the audit was in connection with Jung's alleged gambling, the company said it was just a regular inspection.
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