Prosecutors "Cuten Management Is Unable to Settle At least About a Year's Eve"

Prosecutors sought arrest warrants for Quten Group CEO Koo Young-bae, Timon and Wemakeff executives, noting that Quten executives were aware of Quten Group's insolvency at least about a year ago.

The Seoul Central District Prosecutors' Office reportedly stated in the arrest warrant that the head of the Q10 finance division, identified only by his surname Lee, said in October last year, when the untidiness of Timev began, "Timev's life and death come and go."

The prosecution suspects that Ryu Hwa-hyun, CEO of Wemakep, and others also knew from the beginning of this year that it was impossible to pay the settlement price to the sellers.

In addition, it is believed that CEO Koo, who actually controlled Timon and Wemakeff, ordered them to continue selling discounted Timmeff gift certificates even after being briefed on this situation.

In addition, the prosecution reportedly judged that CEO Koo and Timef's management had deceived the company's situation by repeatedly submitting false data to financial supervisory authorities.The

district representative told the National Assembly in July that he was briefed on the pending settlement on July 12, 2024.