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World

Lotte Group exec dead in suspected suicide

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World

Lotte Group exec dead in suspected suicide

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00:00:02
>> A suspected suicide, rocks South Korea's corporate world. A senior executive for Lotte group found dead, Friday, hours before he was set to be questioned by prosecutors. Lotte confirming Vice Chairman, Lee In-won's death. He was the highest ranking executive outside the Shin family, which controls the group. Police say, the body of a man was found under a tree, along a hiking trail.
00:00:23
He appeared to have hung himself by his necktie. They're still trying to confirm that the body was Lee's. A suicide note was found nearby in the executive's car. Prosecutors raided the Lotte offices in June. Sources say, they were looking for a possible slush fund and suspected embezzlement within Lotte's companies.
00:00:41
Official sources telling Reuters, Lee's death likely to hinder the investigation, which is already taking a huge bite of Lotte's wide range of businesses. In June, Hotel Lotte was forced to cancel an IPO to raise over $5 billion, which would've made it the world's largest this year.