South Korea tycoon charged with graft
20 July 2013 5:29 AM IST
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.
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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