A businessman whose household’s firm operated a ferry that sank off South Korea in 2014, killing more than 300 people, shall be flown to that nation from the United States to face embezzlement prices, officers mentioned on Thursday, after years of requests from Korean prosecutors.

The businessman, Yoo Hyuk-kee, 50, also referred to as Keith Yoo, is anticipated to reach in South Korea, the place he faces trial on seven counts of embezzlement, on Friday. Since 2020 he had been held with out bond in New York State, the place he lived for years.

South Korea’s Justice Ministry mentioned in a press release on Thursday that Mr. Yoo would arrive at Incheon International Airport on Friday at 5:20 a.m. native time.

An organization managed by Mr. Yoo’s household, the Chonghaejin Marine Company, operated the Sewol ferry, which capsized off the southwestern coast of South Korea in April 2014. Most of those that died had been youngsters on a faculty journey, and the catastrophe traumatized the nation.

The ferry was dangerously overloaded and top-heavy, and a few crew members mentioned after the sinking that they’d by no means been educated in what to do in an emergency scenario. South Korea’s Coast Guard was late to the scene and poorly ready to assist when it arrived.

Prosecutors say that members of the Yoo household embezzled $169 million from a family-run church and from corporations associated to their enterprise empire. They say the thefts diverted funds that the Chonghaejin Marine Company would have spent on security measures, thereby contributing to the ferry catastrophe.

But the prosecutors haven’t alleged that the precise acts of embezzlement with which Mr. Yoo is charged contributed to the sinking.

Shawn Naunton, the lawyer who represents Mr. Yoo within the United States, mentioned earlier this week that he was “deeply disappointed” by the State Department’s choice to grant South Korea’s extradition request.

“This is an improper political prosecution that was launched in the days after the Sewol ferry sinking in an effort to distract the public’s attention from the failings of the government,” he mentioned.

The Chonghaejin Marine Company was as soon as a sprawling conglomerate with ventures that included toys, ships and cosmetics. Mr. Yoo is accused of conspiring to defraud numerous household companies of $23 million by sham contracts. In a civil trial, a Seoul courtroom in January 2020 ordered him to pay $46 million in damages to the federal government as a result of he was an inheritor to his father, whom the courtroom held accountable for failing to stop the ferry’s sinking.

Between 2014 and 2019, the South Korean authorities requested the United States authorities seven instances for assist in apprehending Mr. Yoo, based on paperwork on file with the federal courtroom system. The State Department denied the primary six requests however accepted the ultimate one, forwarding it to federal prosecutors in October 2019.

In February 2020, federal prosecutors within the Southern District of New York acquired an arrest warrant and a certification that he was extraditable beneath a treaty between the 2 international locations, the information present.

The United States Marshals Service discovered Mr. Yoo at residence in Westchester County, the place he lived as a everlasting resident along with his spouse and three youngsters, arresting him on July 23, 2020. He has been detained with out bail since then.

Six of the counts Mr. Yoo faces contain cash he acquired from his household’s corporations that South Korean prosecutors have known as overpayment. The seventh has do to with cash that Mr. Yoo spent on an artwork challenge by his father, which prosecutors characterised as embezzlement. Mr. Yoo’s lawyer says his shopper did vital work for the businesses, and that the transaction involving his father’s artwork was respectable.

Soon after his arrest, Mr. Yoo’s legal professionals started working to dismiss the extradition request, first submitting an unsuccessful movement in a district courtroom, then attempting once more in federal courtroom.

In November 2022, Mr. Yoo’s legal professionals requested the Supreme Court to dam his extradition. Justice Sonia Sotomayor denied the request the identical month.

With the authorized battle to cease Mr. Yoo’s extradition exhausted, Mr. Yoo’s case went earlier than the State Department’s Office of the Legal Adviser, the division that handles extradition, Mr. Naunton mentioned, including that he had made a number of arguments to the State Department.

Mr. Naunton mentioned he informed the State Department that it was “impossible” for Mr. Yoo to get a good trial as a result of the South Korean authorities had labeled him a fugitive.

“Keith was never a fugitive under U.S. law, under international law, or under the terms of the U.S.-South Korea extradition treaty,” Mr. Naunton mentioned. Mr. Yoo, who moved to the United States in 1989, cooperated with prosecutors within the Southern District of New York once they regarded into his funds at South Korea’s request, his lawyer added.

Mr. Yoo’s extradition concludes a significant effort by the South Korean authorities to trace down individuals related to the Sewol sinking. Investigators had been in search of his father, Yoo Byung-eun, when he was found dead two months after the ferry catastrophe.

Yoo Hyuk-kee’s older brother, Yoo Dae-kyoon, spent two years in jail for embezzlement.

Various different Yoo members of the family, in addition to firm executives, have been convicted on embezzlement and different prison prices. The captain of the Sewol is serving a life sentence for homicide; he and different crew members deserted ship with out instructing passengers to evacuate.

The household enterprise has largely disappeared, with the Chonghaejin license revoked and plenty of belongings liquidated to compensate households of the victims. However, South Korean prosecutors say they imagine the household has hidden funds abroad, which they’ve sought to hint, thus far with out success.