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Police raid Samsung C&T over suspected use of company money for owner‘s home remodeling
By YonhapPublished : Oct. 18, 2017 - 11:19
Police raided the headquarters of Samsung C&T on Wednesday as part of an investigation into suspicions that company money was used to pay for remodeling expenses at residences of Samsung Electronics Chairman Lee Kun-hee.
Investigators from the Korea National Police Agency searched Samsung C&T's construction division to seize documents related to remodeling projects. Police suspect that billions of won (millions of dollars) in company money was used to fund the remodeling of Lee family residences.
Investigators from the Korea National Police Agency searched Samsung C&T's construction division to seize documents related to remodeling projects. Police suspect that billions of won (millions of dollars) in company money was used to fund the remodeling of Lee family residences.
Samsung is suspected of making payments from accounts created under borrowed names between 2008 and 2015. In August, police raided the management office that administers the residences and seized related documents.
Police said they plan to call in company officials for questioning after scrutinizing the seized documents.
The investigation came after police found financial irregularities in a housing interior company in a separate probe. Police have also been investigating similar suspicions involving Korean Air Chairman Cho Yang-ho. (Yonhap)
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