South Korean prosecutors have indicted Hyundai Motor chairman Chung Mong-koo in an embezzlement and slush fund scandal that has hit South Korea's largest car manufacturer.
Mr Chung (68) has been in custody since being arrested on April 28th on suspicion of embezzling about 100 billion won (€82.7 million) in company money to create the slush fund and of breach of trust for allegedly incurring about 300 billion won (€249.9 million) in damages to the company.
Kang Chan-woo, spokesman for the Supreme Prosecutors' Office, confirmed Mr Chung's indictment, but did not disclose the specific charges.
Hyundai is suspected of using the secret money, via at least two lobbyists, to seek favours from the government.
The lobbyists have been arrested on charges of receiving money from Hyundai in exchange for promises to help it win construction approvals and permits, and other business favours.
It is unclear whether the lobbyists bribed government officials. It is illegal in South Korea to accept money in return for exercising influence.
Mr Chung's son, Eui-son, is president of Kia Motors, an affiliate of Hyundai, and was also investigated, although he was not indicted today. Media reports said prosecutors plan to indict him later.