Third time a charm? After two prior attempts, police once again seek detention warrant for One Hundred chief

Police have sought a third detention warrant for Cha Ga-won, chairman of p_Arc Group and co-CEO of entertainment agency One Hundred Label, over allegations that she defrauded business partners out of about 30 billion won ($20 million).

The Seoul Metropolitan Police Agency's financial crimes investigation unit applied for the detention warrant on Wednesday on charges including fraud under the Act on the Aggravated Punishment of Specific Economic Crimes.

Police sought detention warrants for Cha twice last month, but prosecutors returned both requests and ordered further investigation to strengthen the case. After conducting additional inquiries, police reapplied for a detention warrant.

Cha is accused of proposing business partnerships to companies in the entertainment industry under the pretext of developing businesses based on the intellectual property of artists signed to her agency.

She allegedly collected large upfront payments but failed to carry out the promised projects. The alleged fraud totaled about 30 billion won, according to industry sources.

Cha has denied all allegations. She previously claimed the accusations were part of a hostile merger and acquisition attempt targeting One Hundred Label.

The allegations come as One Hundred Label has become embroiled in a series of legal disputes with its artists.

A court ruled in favor of nine members of the boy band The Boyz in their bid to suspend their exclusive contracts with One Hundred Label on April 24.

Boy band EXO’s Chen, Baekhyun and Xiumin also terminated their exclusive contracts with One Hundred Label’s subsidiary, INB100, on April 10.

BY HAN YOUNG-HYE [[email protected]]