Monday, April 3, 2006


HatTip to my bro. The witch hunt continues...

South Korean prosecutors have raided the office of US investment fund Lone Star, which is involved in the country's largest ever financial deal, as part of a probe into allegations of business irregularities.

Some 60 investigators searched the offices and homes of Lone Star officials with warrants to arrest the fund's former executive, Steven Lee, and others, prosecutor Chae Dong-Wook said.

Lee, a 36-year-old Korean American, is now believed to be in the United States. After a seven-hour search, the investigators left with boxes of documents and computers.

'The search was to acquire evidence on criminal activities involving Lone Star,' Chae said, according to Agence France-Presse.

The prosecutor refused to say how many arrest warrants were issued but said he would ask the United States to hand over Lee, who is accused of evading tax and embezzling company money.

About 10 people, including Lone Star Korean officials, were banned from leaving the country pending questioning, he added.
(full article)

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