Nam Sang-tae, the former president of Daewoo Shipbuilding & Marine Engineering (DSME), was today indicted in Seoul on charges of embezzlement and negligence of duty. He had been detained on Tuesday, but refused to attend a court hearing yesterday. Nam was the boss of the yard, during a time when a massive accounting fraud was unearthed to the tune of billions of dollars.
The prosecution is also looking at filing an extra charge of accounting fraud against him.
Nam is accused of handing contracts to a friend’s business and taking some of the money.
Another former president of the yard is also being investigated.