Yang Ho Cho, the chairman of Korean Air, has died at a hospital in Los Angeles, the company said Monday. Cho had been indicted on multiple charges, and his death came two weeks after shareholders voted to remove him from the company's board.
had been indicted on multiple charges, including embezzlement and tax evasion, and his death came two weeks after shareholders voted to remove the 70-year-old from the company's board over a series of scandals surrounding his family. Cho's death will likely force a court to dismiss his criminal case.The company did not specify his illness or provide other details, including when he died.
The incident, dubbed"nut rage," generated international headlines and severely tarnished the Cho family's image, while highlighting broader concerns about the sense of entitlement among the moneyed elite in South Korea. Cho's wife was summoned last May by South Korean police to question her about allegations that she abused and assaulted employees. Lee Myung-hee was accused of physically or verbally abusing more than 10 former and current employees of Korean Air's parent company.
He was involved in the bidding process and preparations for the 2018 Winter Olympics held in South Korea's ski resort town of Pyeongchang and headed the Olympic organizing committee for two years before stepping down in 2016.
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