319 investors in bonds issued by Central Group affiliates filed a criminal complaint against Chairman Hong Seok-hyun, Vice Chairman Hong Jeong-do, and 20 other executives, including the founding family, management, and employees of financial companies. The complainants allege that Central Group violated capital market laws by concentrating funds on unlisted affiliates, making it difficult for investors to track the flow of funds, and manipulating financial statements through "round-tripping" transactions. They estimate that at least 32.52 billion won in damages has occurred as a result. Central Group is facing a financial crisis triggered by JTBC's bond default, with several affiliates undergoing rehabilitation or ARS procedures.
