The Incheon District Court on Friday approved an arrest warrant for the daughter of Yoo Byung-eon, the shipping tycoon and cult leader widely blamed for the 2014 ferry disaster.

Yoo Sum-na, who was extradited from France after a three-year legal battle, is accused of embezzling W4.6 billion from ferry operator Cheonghaejin Marine (US$1=W1,125). The court accepted that there is a risk that she could try to flee or destroy evidence.

Yoo, who ran a design company, is charged with receiving W2.5 billon from Cheonghaejin Marine in the form of bogus consultancy fees and having her design company pay W2.1 billion to another business she owns by illegal means.

Altogether she is suspected of embezzling W49.2 billion from publicly traded companies controlled by her late father.

Yoo denied the charges, claiming all the money was for bona fide services. Her mother and brother were arrested and sentenced back in 2014.