Prosecutors on Friday requested an arrest warrant for Booyoung Group Chairman Lee Joong-keun on charges of tax evasion, embezzlement and breach of trust. 

The head of the construction and real estate conglomerate is also charged with obstruction of bidding and violating the Fair Trade Act and the Rental Housing Act.

Prosecutors believe Chairman Lee was involved in a series of crimes including receiving unfair profits of over one trillion won obtained by Booyoung affiliates by way of overstating construction costs and inflating apartment sale prices.

Lee is also accused of irregularities to benefit his family and relatives including a 20 billion won retirement payout to his brother-in-law and employing pressure tactics to give more work to a subcontractor run by his nephew.