Lotte says South Korea prosecutors requested arrest warrant for chairman

[SEOUL] South Korea's Lotte Group said in a statement on Monday that prosecutors have requested an arrest warrant for its chairman Shin Dong Bin, the latest twist in a sweeping criminal probe into the country's fifth-largest conglomerate.

A prosecution source with direct knowledge of the matter said the warrant has been sought as part of an investigation into suspected embezzlement and breach of trust.

The person declined to be identified as he was not authorised to speak to media.

Lotte Group didn't comment in its statement on why the arrest warrant was requested, and didn't disclose Shin Dong Bin's whereabouts. It said in a statement that it will fully cooperate with the judicial investigation.

A spokesman for Seoul Central District Prosecutors' Office could not be immediately reached for comment.

REUTERS