Posted June. 01, 2009 08:03,
Investigators sought an arrest warrant yesterday for Sejoong Namo Tour CEO Chun Shin-il, 66, on the charge of accepting bribes, tax evasion and violation of the Securities Transaction Act.
Prosecutors say Chun took 150,000 yuan (21,969 U.S. dollars) from former Taekwang Industry Chairman Park Yeon-cha in return for lobbying tax officials when Chun attended the Beijing Olympics in August last year.
Chun also allegedly took 800 million won (640,000 dollars), an amount which Park invested in Chuns business but never recouped.
Chun is also suspected of evading inheritance taxes of 8.5 billion won (6.8 million dollars) and capital gains taxes. A judge at the Seoul Central District Court will investigate Chun and decide whether to detain him at 10:30 a.m. tomorrow.
Prosecutors were supposed to seek an arrest warrant for Chun May 23, but suspended the probe in the wake of the suicide of former President Roh Moo-hyun. They will subpoena 10 suspects - several ruling party lawmakers, provincial government leaders including South Gyeongsang Province Governor Kim Tae-ho, and senior judges in the provinces.
The investigation results will be announced after legal action is taken against all who received illegal funds from Park by mid-June.