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Loan Fraud South Korea

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February 1, 1997 | TERESA WATANABE, TIMES STAFF WRITER
South Korean prosecutors, hoping to crack a major financial scandal here, on Friday arrested the owner of a bankrupt steel firm whose receipt of astronomical loans has triggered suspicion of high-level political corruption. Chung Tai Soo, owner of the Hanbo group, South Korea's 14th-largest business conglomerate, was arrested on charges of fraud, embezzlement and issuance of bad checks.
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NEWS
February 1, 1997 | TERESA WATANABE, TIMES STAFF WRITER
South Korean prosecutors, hoping to crack a major financial scandal here, on Friday arrested the owner of a bankrupt steel firm whose receipt of astronomical loans has triggered suspicion of high-level political corruption. Chung Tai Soo, owner of the Hanbo group, South Korea's 14th-largest business conglomerate, was arrested on charges of fraud, embezzlement and issuance of bad checks.
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