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Former LD Carbon executives accused of fraud

  • Writer: Notch
    Notch
  • May 15
  • 1 min read

LD Carbon, a South Korean tire pyrolysis company, has filed a criminal complaint against its former chief executive and two senior finance officials, accusing them of embezzling corporate funds and misuse of government subsidies. The complaint was filed to the Suseo Police Station in Seoul and names former CEO Hwang Yong-kyung, CFO Lee Chung-jin, and Finance Manager Han Seung-yeon as suspects in an alleged scheme dating to 2022/2023. The charges involve unauthorized financial bonuses and salary kickbacks and followed the company's Series A funding round in 2022, which raised KRW 18.5 billion (US$14.7M). Following the complaint, a probe has been initiated.



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