Police raid Korean Air over alleged fund misappropriation
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14:48 July 07, 2017
SEOUL, July 7 (Yonhap) -- Police said they raided the headquarters of South Korea's top airline on Friday as part of a probe into alleged misappropriation of company funds for its chairman's personal purpose.
The National Police Agency sent investigators to the main office of Korean Air Lines Co. in western Seoul to confiscate evidence including accounting documents, it said.
Police are probing allegations that the company cooked its books on expenses for a new hotel construction, when it actually spent the money on building the residence of its chairman, Cho Yang-ho.
elly@yna.co.kr
(END)
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