Millennium Post

South Korea tycoon charged with graft

The head of South Korean food and entertainment giant CJ Group was charged Thursday with embezzlement and tax evasion, prosecutors said, as Seoul seeks to rein in family-controlled business groups.
Lee Jae-Hyun, 53, allegedly stashed away undeclared assets worth about 96 billion won and evading taxes worth 54.6 billion won since 2004.
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