Monday, April 28, 2014

Sewol Tragedy: 12 days has passed...

It's been 12 days has passed since the Sewol ferry tragedy and as the search and rescue operations continues, the investigation to the cause of the submerge is starting to unravel.

The family of Yoo Byung-eon, the real owner of the ferry company, have been placed on travel ban by the prosecutors as they're looking into whether the family evade taxes, embezzled funds or made illegal foreign exchange trades.

Prosecutors raided four branches of an accounting firm that worked for the ferry operator and is suspected of having slush funds and also worked with the operator's affiliates, which are controlled by Yoo Byung-eon. They suspect that the firm in question helped forged audit reports for Yoo's companies.

Source: Arirang Radio

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