It was confirmed that the prosecution had identified circumstances in which Homeplus, the majority shareholder of which was MBK Partners, committed large-scale accounting fraud and applied for corporate rehabilitation based on fabricated financial statements. It is reported that the prosecution will emphasize this content in the ‘pre-arrest interrogation of suspects’ (substantive warrant examination) of MBK Partners Chairman Kim Byeong-ju, scheduled for the 13th.
Prosecutors suspect that Homeplus committed accounting fraud worth more than 1 trillion won by converting liabilities into capital and excessively increasing the value of its assets in a manner that did not comply with accounting standards. In addition, it is believed that the company inflated its financial statements and applied for rehabilitation to the court, even though it was in a state of virtual capital erosion.