Search and Seizure of Residence and Office on the Morning of the 10th
Prosecutors began a search and seizure operation on the morning of the 7th in relation to former Namyang Dairy Products Chairman Hong Won-sik's alleged violation of the Act on the Aggravated Punishment, etc. of Specific Economic Crimes.
According to the legal community on the 7th, the Fair Trade Investigation Division of the Seoul Central District Prosecutors' Office (Chief Prosecutor Kim Yong-sik) has been conducting search and seizure operations at about 10 locations, including former Chairman Hong's residence and Namyang Dairy Products' offices, since the morning.
Earlier, Namyang Dairy Products filed a complaint in August accusing former Chairman Hong and three former executives of embezzlement and breach of trust under the Act on the Aggravated Punishment, etc. of Specific Economic Crimes. Namyang Dairy Products explained that it suspects former Chairman Hong and others of embezzling approximately 20.12223 billion won.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
